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Grom Holdings acquires animation producer Top Draw Animation
MUMBAI: Grom Holdings, the privately-held parent company of Grom Social, has acquired Philippines-based Top Draw Animation (TDA).
The acquisition of a major international animation producer is the latest step as part of an aggressive growth strategy for Grom Social, the safe social network created “by kids for kids.”
TDA, a producer of animation based in Manila, is recognized by producers and broadcasters as a provider of quality television animation and currently provides services to many properties, including ‘My Little Pony’, ‘Tom and Jerry’ and ‘Peabody and Sherman’.
“We are fortunate to partner with an international company of TDA’s caliber, and we are excited about the production expertise they bring to Grom Social. After an extensive search, we identified TDA as ‘best in class’ for their international reputation for top quality animation, excellent management team and long track record of consistent and strong profitability. This acquisition brings Grom Social one step closer to becoming the preeminent online and digital destination for kids,” said Grom Social president Sander Schwartz.
This transaction enables both companies to benefit from the growing market for kids content in the US and internationally. With the combination of animation expertise, talent and IP held by both companies, Grom Social is poised to ramp up production for inclusion within its growing video library as well as to continue to service TDA’s clients around the world. While Grom Social has been producing live-action short form content since its inception, the addition of TDA will enable the company to produce animated content in-house for its ever expanding website and mobile applications.
TDA CEO, founder and MD Wayne Dearing will continue to operate TDA and oversee its production of animated content. Dearing will also take on the role of EVP, Global Finance of Grom Social. Dearing’s long career as a financial and operations leader of Hanna Barbera, Australia, Hanna Barbera Asia, and CEO of TDA will be brought to bear at Grom Social and will be an integral part of its strategy to build a vibrant animation production business. In his new role, Dearing will report to Schwartz, and become an integral part of Grom’s growth plans for the future.
“The opportunity to join Grom Social and become a part of its growth was a compelling one. Transforming our company into a major player in digital media has been the focal point of our strategy to grow our business. By joining forces with Grom Social, we will achieve that goal and set the stage for strong growth within both the traditional television animation sector and new animated content for digital media. I can’t imagine a better fit for us than Grom Social.
“With more than 500 employees based at its headquarters in Manila, TDA is a strong contributor to the local economy and an advocate for harnessing artistic talent in the Philippines and exporting their work to countries around the world. By the combination of these two entities, Grom Social will be able to benefit from TDA’s ‘best in class’ animation for its original content, while TDA will now be able to deploy the creative auspices of Grom Social to build its library of shows for online, for mobile, and across all platforms,” said Dearing.