MUMBAI: Animation and gaming content production company DQ Entertainment plc has acquired a 20 per cent stake in Method Films SA, France.
The acquisition is in line with DQE’s strategy to invest in co-production to obtain larger percentages of the global intellectual property and distribution rights in its productions.
Method Films is a multi award winning animation concept and content creation company, one of the European leaders, which produces content for a number of international broadcasters such as Nickelodeon, BBC, ITV, France2, France 3, ABC Australia, etc. Method films has produced several well known TV series created in-house and co-produced with DQ Entertainment such as Skyland, Les Gnouf, Mikido, and has rejuvenated strong international brands such as Iron Man in co-production with Marvel Entertainment & DQ Entertainment. In the year ended 31 Dec 2006, Method Films generated EBIDTA of € 6.58 Mn and had net asset of € 13.33 million on that date.
Method Films and DQ Entertainment have already co-produced a number of productions together, including Skyland, for which they won an award at the Best Animated FRAMES Awards in Asia in 2006. They have also produced and are co-producing several other properties such as Les Gnouffs, Jet groove, Iron man, Mikido and Pinky & Perky. This acquisition will further strengthen the business relations between the companies and there will be strategic business synergy leading to exponential growth.
Method Films chairman Aton Soumache said, "We are glad to open new perspectives to this long term relationship with DQ Entertainment. DQ Entertainment is a talented large production company to which we owe a lot, and it will be a central key to the future developments of our company, not only for animation productions for various platform but for video games also. I do strongly believe in the vast business opportunities available with this French-Indian relationship for the future."
Joint global projects together produced and under production has already generated € 19.89 million direct benefits to DQE, while, projects worth € 10.86 million are in serious pipeline to be worked together.
DQE chairman and CEO Tapaas Chakravarti said, "Our acquiring stake in Method Films is the logical next step to reinforce our long and successful relationship and help create one of the strongest global animation partnerships. This acquisition will allow DQE greater access to global IPR funding and co-productions and logical larger percentages of the global IP and Distribution rights besides the service revenues."