iThentic shareholders, Barna-Alper Productions and iThentic LLC, have announced a strategic partnership and restructuring of the online and mobile video company, which transfers the management of its operations to Web and animation company, Smiley Guy Studios.
The business will continue to operate from Toronto, but will move to Smiley Guy Studios' offices. In exchange for its operating role, Smiley Guy will become an owner in the business and operate it as a subsidiary of Smiley Guy Studios. Catherine Tait becomes Chairman of the Board of Directors, Jonas Diamond will assume the role of CEO, and Smiley Guys Jeremy Diamond and Denny Silverthorne will assume the roles of Creative Directors.
The terms of the transaction were not disclosed by the company.
"Smiley Guy Studios is a genuinely innovative producer with a track record of success with multiplatform properties like ODD JOB JACK. We are excited to welcome their contribution to the ongoing development of iThentic, Canada's only dedicated online and mobile content producer-distributor," said Laszlo Barna, co-founder of Barna-Alper and President of Entertainment One Ltd's recently formed Television Group. "In concluding this deal, Barna-Alper will continue to focus on our core television production activities as part of the Entertainment One group of rights ownership and distribution companies, while maintaining a strategic relationship with iThentic."
iThentic is a production and distribution service dedicated to bringing the best independently produced content to the online and mobile video arena. Founded in 2006, iThentic moved its headquarters to Toronto in 2007 after Barna Alper invested in the company.
"Since our move to Canada, iThentic shifted its focus from a pure distribution model to a content incubation model," said Catherine Tait, co-founder and CEO of iThentic. "Our data points unequivocally point to iThentic's original content as driving the most user traffic and interest."
Over the last year, iThentic has partnered with the NFB, IFC, Bell New Media Fund and Telus Innovation Fund in the creation of MOBILE STORIES: OBSESSIONS; with ITVS (San Francisco-based Independent Television Video Service) in GLOBAL MOBILE: FOOD and with a number of independent creators such as comedian Dave Hill in the creation of content specifically designed for online and mobile consumption. iThentic also manages a white label content management platform for the Canadian Film Centre-presented and Telus-sponsored online short film festival Shortsnonstop, www.shortsnonstop.com.
"Smiley Guy Studios made its start with ODD JOB JACK on the web and after five seasons on The Comedy Network and multiple awards, we are convinced that the Internet provides an efficient model, from a cost and creative perspective, for developing new content for all platforms. We produced Bruce McCall's ASCENT OF MAN for iThentic and are now developing a 100-episode mobile series based on the success of this online short," Diamond said. "This transaction will allow us to more fully immerse our company in the business of online and mobile production and distribution."
iThentic will also launch a new channel on its website, www.ithentic.com, delivered from FilmCatcher.com. FilmCatcher produces original video content, including one-on-one conversations with filmmakers, actors, industry execs, festival programmers, and journalists.
