Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
The Economic Times
11,471.55-125.35
Stock Analysis, IPO, Mutual Funds, Bonds & More

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.

ET Bureau|
May 29, 2019, 07.57 PM IST
0Comments
BCCL
mergers
Telegael now becomes part of one of Asia’s largest and most dynamic entertainment groups, with a 400-talent strong studio in India.
Kochi: Toonz Media Group has acquired a majority stake in the large full-service Emmy winning production house Telegael, extending the group’s global entertainment footprint and adding important pre and post production facilities to its animation powerhouse, as well as a large live action studio to its entertainment business, hence enabling it to become a major 360 entertainment outfit.

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.”
0Comments
Want stories like this in your inbox? Sign up for the daily ET Panache newsletter.

You can also follow us on Facebook, Twitter and LinkedIn.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for Live Elections News & Results, Latest News in Business, Share Market & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service