The post-production company headquartered in Spain has signed a binding letter of intent to purchase 74.24% of Mondo TV Studios shares from its Italian parent company Mondo TV S.p.A.
Spain-based post-production company Squirrel Media has signed a binding Letter of Intent to acquire 74.24% of Mondo TV Studios shares from its Italian parent company Mondo TV S.p.A. The document includes Squirrel's intention to acquire up to 100% of the shares through one or several non-monetary capital increases. Mondo TV is one of the largest European producers and distributors of animated content.
Squirrel president Pablo Pereiro Lage states that the acquisition "will consolidate our leadership in the creation and distribution of content in Spanish, Portuguese and Italian."
According to the incorporation agreement, Mondo TV Studios will join the group's content business segment, creating a new animation funnel to produce and distribute new IPs as well as offer animation services as a recurring activity offer.
"The acquisition of Mondo TV Studios, with its animation studio and its catalog, is deeply valuable for our growth strategy, since it will mean adding to the group one of the largest European producers and distributors of animation content," adds Lage.
The impending integration of both studios will allow Squirrel to become part of a multinational communication technology group that works globally through advertising, media, content (creation and distribution of audiovisual content) and technology (TMT services).
Maria Bonaria Fois, CEO of Mondo TV Studios, added, "The integration of Mondo TV Studios into a Group with exponential growth projections such as Squirrel Media represents the consolidation of our performance to reinforce the strategic growth of our company. We thank Mondo TV Group for supporting us throughout all these years and allowing us to reach this day. Today we are proud of our achievements and excited for all that is to come. We will continue to work hard on our traditional business lines, exploring synergies with the other Squirrel Media companies, as well as attracting international animation services and continuing to develop IPs that add value.”
Mondo TV Studios will maintain its brand, organizational chart, and management framework, sp that projects may continue under the same leadership.
Source: Mondo TV
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