Galway-based animation company Telegael has received a new backer in the form of India’s Toonz Media Group.
Toonz has acquired a majority stake in the Emmy-winning production house, with which it already has a number of co-productions.
Set up in 1988, Telegael employs the services of up to 350 staff, including fulltime and contract workers.
It co-produces animated and live action content for a range of international partners and broadcasters.
Its clients include some of the biggest names in global broadcasting including Walt Disney, Netflix, Lionsgate, NBC Universal, BBC, Discovery, Cartoon Network, Nickelodeon, ARD and ZDF.
It has produced more than 1,000 hours of television, which have been distributed to over 150 countries and
translated into over 50 languages.
Toonz is one of Asia’s largest animation and entertainment groups and has a workforce of over 400 in India.
It said it sees this investment as a way of boosting its own intellectual property while also expanding its presence in the European market.
Paul Cummins, CEO of Telegael, said the Toonz deal provides the company with exciting opportunities to further grow its IP and service production by becoming part of a dynamic global entertainment group.
“The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group,” he added.
Ireland is a big player in the world of animation, particularly TV animation, with the likes of Brown Bag, Boulder Media and Telegael.