Strategic venture will allow India-based Toonz to increase in-house IP development as well as European production for global distribution.
TRIVANDRUM, INDIA / GALWAY, IRELAND -- India-based Toonz Media Group has announced the acquisition of a majority stake in Ireland’s full-service Emmy-winning production house Telegael, adding additional pre and post-production facilities and a large live-action studio to its entertainment business. The deal is a strategically complementary venture for both companies which will leave Toonz poised to become a major 360 entertainment outfit.
In July 2018, Toonz announced the co-production of its new 52x12’ CGI comedy series Mondo Yan, partnering with Telegael, Spanish broadcaster TV3 from Catalunya and Imira Entertainment. Telegael is handling part of the pre-production and all post-production of the series, while Toonz-owned Imira Entertainment handles worldwide distribution.
Toonz plans to increase its in-house development and IP creation using Telegael’s design and pre-production division, resulting in a significant increase in European production. The added titles will be distributed globally by Imira.
Toonz Media Group CEO, Mr P. Jayakumar, commented, “The addition of proven pre-production and post-production facilities, together with existing distribution capabilities and our globally recognized 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”
Established in 1988, Telegael co-produces animated and live-action content for a range of international partners and broadcasters. Its clients include some of the biggest names in global broadcasting including The Walt Disney Company, Netflix, Lionsgate, NBC Universal Sprout, BBC, Discovery, Cartoon Network, Nickelodeon, ARD and ZDF. Telegael has produced more than 1,000 hours of television, which have been distributed to over 150 territories and translated into over 50 languages.
“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,” added Telegael’s CEO, Paul Cummins. “The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group.”
Source: Toonz Media Group