Technicolor (Euronext Paris: TCH; OTCQX: TCLRY) has entered into an exclusive agreement with Mediacontech to acquire Mikros Image, a French production and postproduction company, implanted in Paris (France) and Montreal (Canada).
Mikros Image is an award-winning, highly regarded French production services company that has long-standing relationships with a large number of French-based customers and encompasses aspects of production and postproduction for feature animation, advertising, feature film and TV. The feature animation division, mainly located in Montreal, has developed a proven and tested pipeline, built a strong team of artists and become a reference in this market. Its feature animation portfolio includes Asterix: le Domaine des Dieux, Mune le gardien de la lune and le Petit Prince. Mikros Image generated €44 million of revenue in 2014.
The acquisition of Mikros Image would immediately strengthen Technicolor’s position in the Animation market, which is identified as a major growth driver for the Group as part of its Drive 2020 strategic plan. The transaction complements Technicolor’s animation services which recently grew with the acquisition of Ouido Productions, a French-based production house specializing in animated TV series. With Mikros Image, whose work in Advertising includes campaigns for Evian, Dior and Audi, combined with MPC Paris’ advertising activities, Technicolor becomes the leader in France’s advertising market.
Mikros Image would leverage Technicolor’s cutting-edge technologies, access broader resources to scale its offering and benefit from operational synergies. Mikros Image would retain its own brand, management and culture of creativity and would be added to Technicolor’s brands portfolio, that already includes MPC, Mr. X, Ouido and Technicolor. The Group’s strategy is to offer clients empowered and innovative brands that support clients’ service and market needs.
“The acquisition of Mikros Image aligns with our strategic objective to grow in animation and advertising,” said Technicolor’s CEO, Frederic Rose. “Their proven expertise in feature animation film and advertising will strengthen our offering.”
The transaction is expected to be completed in the second quarter of 2015 subject to the labor law requirements. The transaction is expected to be accretive on a full year basis.
About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go. www.technicolor.com
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (TCLRY).
