Toonz Media Group has acquired a majority stake in the Emmy Awards-winning production house Telegael in Ireland.
This extends the group’s global entertainment footprint and adds major pre and post production facilities to its animation powerhouse, a company spokesman said.
It would also add a large live action studio to its entertainment business, enabling the group to become a major 360 entertainment outfit, the spokesman added.
Toonz Media is one of Asia’s largest entertainment group, with a 400-talent strong studio and produces around 10,000 minutes of 2D & 3D animation and visual effects annually.
Meanwhile Telegael, established in 1988, employees up to 350 entertainment professionals and has produced over 1,000 hours of television. Its clients include The Walt Disney Company, Netflix, Lionsgate, NBC Universal Sprout, BBC, Discovery, and Cartoon Network.
P Jayakumar, CEO, Toonz Media Group, said, "This new acquisition will enable Toonz to deliver world class end to end services to existing and future customers across the globe.”
Paul Cummins, CEO, Telegael, said, "The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group."
GLOBAL AMBITIONS
In July 2018, Toonz had announced the co-production of its new 52x12’ CGI comedy series Mondo Yan, partnering with Telegael, Spanish broadcaster TV3 from Catalunya, and Imira Entertainment.
Toonz Media Group, which celebrates its 20th anniversary this year, will through this acquisition increase its in-house development and IP Creation business with Telegael’s design and pre-production division.
This would help it significantly increase its European productions with global appeal and add more titles, being distributed globally by Toonz’s Imira, the spokesman said.