Toonz aqcuire majority stake in Telegael
The deal between India-based Toonz and Ireland’s Telegael brings many strategic synergies, making this a complementary venture for both companies.
The deal between India-based Toonz and Ireland’s Telegael brings many strategic synergies, making this a complementary venture for both companies. As part of this strategic venture, Toonz benefits from having an award-winning, successful and highly active pre and post-production studio, as well as a live action capacity amongst its business divisions.
Telegael now becomes part of one of Asia’s largest and most dynamic entertainment groups, with a 400-talent strong studio in India, producing around 10,000 minutes of 2D & 3D animation and visual effects annually and joins a dynamic group with full-scale financing, production, distribution and broadcast offices in 10 major countries around the globe.
Toonz Media Group, this year celebrating its 20th anniversary, will through this acquisition, increase its in-house development and IP Creation business with Telegael’s design and preproduction division, amounting to a significant increase in European production with global appeal and more titles added to Toonz’s slate, which is distributed globally by Toonz’s Imira.
Toonz Media Group CEO, P. Jayakumar, commenting on the partnership said “The addition of proven pre-production and post-production facilities, together with existing distribution capabilities and our globally recognised production expertise delivers synergistic and customer benefits that exceed the sum of the parts. 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 of Telegael adds “The Toonz deal provides Telegael with exciting opportunities to further grow our IP and service production by becoming part of a dynamic global entertainment group with involvement and expertise in 2D & 3D production, visual FX, global distribution, financing, gaming, licensing and merchandising. The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group.”