Live Post
Kerala high court clears CM Pinarayi in Rs 374 crore Lavalin scam case
Infosys jumps 3% on buzz of Nandan Nilekani's return
Gorakhpur tragedy: Top UP bureaucrat removed
Karti Chidambaram appears before the CBI in the corruption case
Kaifiyat Express derails in Auraiya district of UP, 74 injured
Bypoll: Voting underway in Panaji and Valpoi Assembly seats
Dhinakarans effigy burnt in Puducherry

Toonz Animation set to acquire Spain’s Imira Entertainment

MUMBAI: Indian company Toonz Animation is set to fully acquire Imira Entertainment, a production and distribution company of kids content based out of Spain, for an undisclosed amount.

Imira will conchief executive P Jayakumartinue to operate as a separate production and distribution entity under its existing management structure. The teams from the two companies will, however, work together on production and distribution.

Toonz Animation chief executive P Jayakumar said, “Adding Imira Entertainment to the Toonz Group brings significant complementary services and areas of expertise to our offering.”

Through the deal, the two companies will jointly exploit opportunities to offer combined content creation strength and global distribution.

CEO Sergi ReitgImira Entertainment CEO Sergi Reitg said, “Toonz Animation has a world-class pedigree in television and film. It is an exciting home for Imira Entertainment and a natural fit, and we are looking forward to working with our new colleagues to maximise the potential of our partnership.”

Imira will handle television and licensing rights for Toonz Animation-produced content in Europe, US, Latin America and Africa. The company already distributes a catalogue of over 4,000 half hours of children’s programming. This includes shopping series like Scholastic’s ‘Goosebumps’, ‘Horrible Histories’ and ‘The Magical School Bus’, as well as its original series.

The deal will also help Toonz utilise its relationships in Asia and Pacific territories on behalf of Imira.

Established in 1999, the Toonz studios are located in an 18,000 square foot facility in Kerala. Toonz has worked with various partners like Disney, Turner Broadcasting, Sony, BBC, Marvel and Nicktoons.

Some of the projects Toonz has worked on include Indian series ‘The Adventures of Tenali Raman’ and ‘Hanuman’. International projects include animated series ‘Wolverine’, the ‘X-Men’ and ‘Speed Racer’.