PARIS, June 10, 2014 /PRNewswire/ --
Technicolor (Euronext Paris : TCH ; OTCQX : TCLRY) announced it
has reached an agreement to acquire Mr. X, a leading North American
provider of visual effects (VFX) to premier television and
international film clients. Mr. X joins Technicolor's Production
Services division, which includes Academy Award-winning MPC (The
Moving Picture Company).
(Logo:
http://photos.prnewswire.com/prnh/20140109/663189 )
The acquisition expands Technicolor's VFX services globally to
high-end television and international film markets. MPC will
continue to address leading projects for both its studio and
advertising clients, while Mr. X will focus on high-concept TV
production, genre features and international film co-productions.
Mr. X and its clients will also be able to access Technicolor's
post production portfolio, proven operational excellence and
leading technology solutions.
Mr. X will operate as Technicolor's VFX brand for television and
become a wholly-owned subsidiary of Technicolor. Mr. X's co-founder
and President, Dennis Berardi, will
become Global Managing Director of Mr. X reporting to Tim Sarnoff, President of Production Services
for Technicolor. Mr. X currently employs over 200 professionals in
Toronto and New York.
"This significantly increases the spectrum of services we can
offer our clients," said Tim
Sarnoff, President of Production Services, Technicolor.
"Having Dennis Berardi's leadership
and his incredibly creative team join Technicolor gives us
unrivaled talent, expertise and capacity."
"I am incredibly proud of our people and the business and brand
equity we have built," said Dennis
Berardi, President and co-founder, Mr. X. "By joining forces
with Technicolor's Production Services, division, we will have
greater scale, resources and access to cutting edge technology and
R&D to serve our clients and to continue to grow the
business."
Mr. X services include design and pre-visualization, 3D
animation, CGI effects, compositing, VFX supervision and production
management. Mr. X has worked or is currently working on major
television series such as "Vikings" for the History Channel, "Penny
Dreadful" for Showtime and Guillermo del
Toro's upcoming "The Strain" for FX; as well as feature
films including "RoboCop," "Anchorman: The Legend Continues" and
the highly successful "Resident Evil" franchise for Constantin
Film.
Financial details of the agreement will not be disclosed, but it
is anticipated to contribute incremental positive earnings
immediately.
The acquisition remains subject to approval by the Government of
Canada's Department of Canadian
Heritage.
Tweet about it - @Technicolor to Acquire @MR_X_INC, #Toronto's
Leading #VFX Studio
About Mr. X Inc.
Co-founded by Dennis Berardi and
TOPIX in 2001, Mr. X is a digital production studio specializing in
television and feature film visual effects. By collaborating with
filmmakers from pre-production through post, Mr. X helps to define
the look and feel of a film or television series. Mr. X has
facilities in Toronto and
New York City with a combined
staff of over 200 artists and production
management. Twitter @MR_X_INC
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. http://www.technicolor.com Twitter
@Technicolor
Technicolor shares are on the NYSE Euronext Paris exchange
(TCH) and traded in the USA on the
OTCQX marketplace (TCLRY).
Contacts
Press contact: Doug Free
+1-650-353-8012
doug.free@technicolor.com
Investor relations: +33-1-41-86-55-95
Investor.relations@technicolor.com
SOURCE Technicolor