The deal is expected to close in the first half of 2021, and doesn’t include Technicolor owned creative brands The Mill and MPC
Technicolor Post has been acquired by Streamland Media for a reported US$36.5m (£26.8m).
Streamland is HQ’ed in LA and already owns a number of post-production brands, including The Farm Group, Ghost VFX, and Picture Shop. The acquisition of Technicolor Post will bolster Streamland’s roster of talent and help meet client demand in the U.S., Canada and Europe.
The Technicolor Post business will be merged into Streamland Media’s existing portfolio. Streamland has confirmed that “all employees dedicated to Technicolor Post will be part of this transaction.”
The deal doesn’t impact on other Technicolor-owned creative businesses, including The Mill and MPC, which will continue to be part of the Technicolor group.
The acquisition of Technicolor Post is backed by Trive Capital and Five Crowns Capital and is expected to close in the first half of 2021.
Streamland Media CEO Bill Romeo, said: “We are thrilled to have the extraordinary calibre of Technicolor Post artists join us. Adding Technicolor Post’s technologies and worldwide locations to Streamland will allow us to partner with all our clients to an even greater degree. I am excited for what’s ahead.”
Richard Moat, CEO of Technicolor, adds: “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. We will continue to focus on these core areas through our award-winning creative studios The Mill, MPC, Mr. X and Mikros Animation.”