Technicolor’s post production business is to be acquired by Streamland Media in a deal worth €30 million, subject to closing conditions.
According to Streamland, the addition of Technicolor Post will bolster the company’s “renowned roster of talent” and broadens the its “unique approach to meeting customer” needs in regions around the world including the UK, Europe, the US and Canada.
Streamland, formerly Picture Head Holdings, counts VFX house The Farm among its business units.
Technicolor Post will be merged into Streamland Media’s existing portfolio. The company said there will be no interruption of services to the post house’s clients during the integration, and all employees dedicated to Technicolor Post will be part of the transaction.
“Our team’s dedication to creative excellence and their outstanding accomplishments has allowed Streamland Media to build this exceptional family of boutique businesses,” says Streamland Media CEO Bill Romeo. “We are thrilled to have the extraordinary caliber of Technicolor Post artists join us. Adding Technicolor Post’s technologies and worldwide locations to Streamland will allow us to partner with all of our clients to an even greater degree. I am excited for what’s ahead.”
“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,” added Richard Moat, CEO of Technicolor.