Acquisition will expand global talent base throughout company’s diverse global business units; deal will bolster its service offerings in regions including U.S., Canada, Europe and the U.K.
Streamland Media has announced that in a bid to bolster the expansion of its global talent network, it has agreed to acquire Technicolor Post. The acquisition is subject to customary closing conditions and is backed by Trive Capital and Five Crowns Capital; the deal is expected to close in the first half of 2021.
Headquartered in Los Angeles, Streamland Media operates through integrated business units including Picture Shop, Formosa Group, Ghost VFX, Picture Head, The Farm Group, and Finalé Post. These worldwide businesses support feature film, episodic, interactive, and emerging forms of entertainment by providing customized solutions in picture and sound finishing, visual effects and marketing. The addition of Technicolor Post will bolster the company’s roster of talent and broaden its approach to meeting customer needs in regions around the world including the U.S., Canada, Europe, and the UK.
Technicolor Post will be merged into Streamland Media’s existing portfolio of businesses. During the transition there will be no interruption of services to Technicolor Post’s clients; all employees dedicated to the newly acquired company will be part of this transaction.
“Our team’s dedication to creative excellence and their outstanding accomplishments has allowed Streamland Media to build this exceptional family of boutique businesses,” commented Streamland Media CEO Bill Romeo. “We are thrilled to have the extraordinary caliber of Technicolor Post artists join us. Adding Technicolor Post’s technologies and worldwide locations to Streamland will allow us to partner with all of our clients to an even greater degree. I am excited for what’s ahead.”
“The strategic sale of Technicolor Post is part of our long-term vision for Technicolor Production Services to focus on VFX and animation for the entertainment industry, and creative services and technologies for the advertising industry, which provide the maximum value to our clients,” explained Technicolor CEO, Richard Moat. “We will continue to focus on these core areas through our award-winning creative studios The Mill, MPC, Mr. X and Mikros Animation.”
“The Streamland model is based on a long-term philosophy that values its distinctive culture and fosters collaboration at every turn,” noted Trive Capital partner, David Stinnett. “This has been at the cornerstone of the company’s success that we enthusiastically support. We are excited to continue to serve the post-production community with a comprehensive offering uniquely designed to meet customer needs globally.”
“Under the direction of the Streamland Media executive team and board, we envision a bright future for the evolution of post-production upon the completion of this deal,” added Five Crowns Capital founder and managing partner, Jeffrey Schaffer.
Source: Streamland Media