INDIA based entertainment content producer Toonz Media Group has acquired a majority stake in the Irish animation firm Telegael.
According to the deal, the Indian firm will own a stake in a major European entertainment content producer and post-production house.
Financial details of the deal were not disclosed.
Toonz has also added a live-action capacity to its business with the latest acquisition.
Telegael’s major animation credits include ‘Lama Lama’ and ‘Kulipari’ for Netflix.
Telegael and Toonz have already been working together to complete various entertainment projects.
Paul Cummins chief executive officer at Telegael said: “The Toonz deal provides Telegael with exciting opportunities to further grow our IP and service production.”
Toonz is based in Southern Indian city of Thiruvananthapuram and is a subsidiary of Geneva-based Comcraft Group.
With the latest stake acquisition, the owner of Spanish animation studio- Imira has further expanded its European footprint.
