Since its financial implosion last month, studios under the global VFX and animation umbrella Technicolor Group have been pieced off in a series of acquisition deals. Now, the Paris Commercial Court has issued a decision on several of these offers impacting the Group’s French subsidiaries.
The Court documents state the acquisitions would help safeguard 220 of roughly 500 jobs in the country imperiled by Technicolor’s shutdown. The Group’s studios employed an estimated 5,000 people worldwide, and the French administrators pointed out the company’s tumble was “extremely brutal on a global level with strong complications linked to the specificities of insolvency procedures in different countries.” Technicolor studios in France and the U.K. went into administration and receivership, while operations in the U.S., Canada and India shuttered.
The deals include:
- Mikros Animation acquisition by Rodeo FX (read more).
- Technicolor Animation Production acquisition by Life Value, a content creation-focused holding company founded by Gilbert Saada and Boris Hertzog. Hertzog’s OuiDO Productions (co-founded with Sandrine Nguyen-Tiet) was acquired by Technicolor in 2015m and he served as CEO of TAP from 2013-2021 before it was folded into Mikros, which he headed until 2023.
- The Mill Paris acquisition by language and AI solutions co. TransPerfect, grouping The Mill and MPC Advertising’s French businesses.
- Technicolor Games acquisition by TransPerfect.
[Source: Deadline]
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