Accelerates Technicolor’s growth in television & theatrical post production
Accelerates Technicolor’s growth in television & theatrical post production
Paris (France) - July 27, 2011 - Technicolor (Euronext Paris: TCH) today announces the acquisition of LaserPacific’s postproduction assets as part of its plans to grow its television (broadcast) and theatrical digital post production market position. As part of the transaction, key LaserPacific creative talent and personnel from its Hollywood-based operations will be transferred, reflecting Technicolor’s commitment to the recruitment of creative talent to deliver the highest quality services to its clients.
Frederic Rose, CEO of Technicolor, commented; “The acquisition of LaserPacific’s assets is in line with our commitment to support the transition of our customers to digital technologies. It reinforces our key position in broadcast digital post production and extends our world-class creative talent pool, while further strengthening our long-standing relations with filmmakers and studios.”
The agreement reinforces Technicolor’s presence in broadcast post production with an increase of 40% in the number of total television series serviced; and will further enhance the company’s presence in theatrical, marketing (trailers) and library mastering. The transaction will also extend Technicolor’s reach and engagement with filmmakers through a first-class digital intermediate facility located in West Los Angeles.
Subject to the satisfaction of certain closing conditions, the transaction is expected to close at the end of August 2011. Financial terms of the transaction are not disclosed.
About Technicolor
Technicolor is home to industry-leading creative and technology professionals committed to the creation, management and delivery of entertainment content to consumers around the world. Propelled by a culture of innovation and underpinned by a dedicated research organization, the company’s thriving licensing business possesses an extensive intellectual property portfolio focused on imaging and sound technologies. Serving motion picture, television, and other media clients, the company is a leading provider of high-end visual effects, animation, and postproduction services. In support of network service providers and broadcasters globally, Technicolor ranks among the worlds’ leading suppliers of digital content delivery services and home access devices, including set-top boxes and gateways. The company also remains a large physical media service provider, being one of the world’s largest film processors and independent manufacturers and distributors of DVDs and Blu-ray™ discs.
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