StudioCanal and NWave have signed an extensive development, co-funding and global distribution agreement, reports VARIETY. As part of the deal, StudioCanal has gained a minority equity stake in the stereoscopic 3-D production firm.

The first project as part of the deal will be SAMMY'S ADVENTURES, the sequel to its environmental message film following a turtle's travels around the world, directed by NWave head Ben Stassen. The $34 million production will be penned by Stassen and Domonic Paris.