California-based global media company First Serve International LLC and animation studio Toonz Animation India have formed a joint venture dubbed First Serve Toonz (FST). The new entity will produce and distribute animation programming for the international marketplace and operate a consumer products licensing business. The first major project will be announced in the next few weeks.
Vijay Amritraj, a tennis legend turned entertainment entrepreneur and chairman of First Serve International, comments, "My company is excited to team up with Toonz at this time as India and its animation industry accelerate to new heights. Our joint venture is strategically positioned to take advantage of a tremendous growth in animation and consumer products business in our region and around the world."
Toonz Animation India CEO P. Jayakumar adds, "While First Serve International brings global experience and perspective to the joint venture, Toonz will deliver cutting-edge creativity and high production values. FST will leverage the strengths of the two partners to become a significant player in the business."
First Serve Interantional CEO Edward Borgerding will also serve as CEO of FST. "FST will be working with major Hollywood brands and content companies to develop, finance, produce and distribute top quality productions," says the industry veteran who spent 20 years with The Walt Disney Co., most recently as exec VP.
Founded in 1999, Toonz Animation India is working on a slate of projects with production houses and entertainment companies across the globe. The studio also maintains an extensive library of original content and is currently working on its in-house productions The Adventures of Hanuman, Paddy’s Pages and Frogskool.
