Parity Group has acquired VFX firm Golden Sq in a pre-pack administration deal.
Parity Group is an AIM-listed business which supplies people and technology to government, industry and marketing agencies.
Golden Sq has now joined the Parity Digital Solutions division of the company where it will sit alongside the firm’s Inition 3D technology and IT solutions businesses.
Parity Group chairman Philip Swinstead said the addition of the VFX facility is part of the company’s plans to expand the group into a wider technology company through growth and acquisition.
“Minimal” job losses are expected, although Golden Sq founders Phil Gillies and Alan Young will continue to head up the Soho-based business.
They will report to Parity Digital chief executive Mark Andrews, who described Golden Sq as “a prestigious brand with an outstanding team.”
Golden Sq’s Flame, Smoke and Nuke artists work across a range of promos, commercials and short films from the facility’s Soho office.
One its recent projects was the production and VFX for a series of idents for Viasat History (pictured).
Golden Square founder Phil Gillies added: “We are incredibly proud to become part of the Parity Group, a real industry powerhouse.
“This partnership will make the most of our existing offering, while also giving us a fantastic opportunity to expand into other areas.”