MUMBAI: The technicolor content services business of Thomson has made a strategic investment in Bangalore based Paprikaas Animation Studios.
With the transaction, Thomson aims to expand its service offerings in the feature film, television animation and video game industries in India.
According to a company release, the addition of Paprikaas’ creative, technical and computer animation work will give Technicolor added capabilities and resources to capture the growing industry demand for high end 3-D digital animation for feature films, television animation, commercial advertising and video games.
“Our synergies will provide a perfect balance between the high front office competences of Technicolor through their global networks in the marketplace and qualified cost efficient back office resources of Paprikaas,” says Paprikaas Animation Studios founder and CEO Nandish Domlur.
Thomson estimates that the Indian animation industry, valued at approximately $ 354 million in 2006, is expected to grow at a rate of 25 per cent per year, nearly three times the global market rate. The Indian gaming industry (content developers’ perspective) is $ 47.7 million in 2006, and is expected to grow more strongly than the animation market, says a company release.