India'based 'Toonz' Buys Into Irish Producer in a Mega Deal

India-based Toonz Animation studio has struck a major deal with Emmy award-winning kids' content Irish producer, Telegael thus enlarging its global outreach after having already acquired Spanish studio Imira.

Toonz is based in Trivandrum, southern India, and is part of Geneva-based Comcraft Group. The deal means it will own a stake in a successful European producer and post-production house, as well as adding a live-action capacity to its business. Telegael gets the scale and leverage that comes with joining a sizable indie animation studio. Toonz makes more than 150 hours of animated fare a year.

Telegael and Toonz are already working together, partnering to co-produce 52-part CGI comedy 'Mondo Yan' alongside Spanish broadcaster TV3 and Imira, which is handling distribution.

According to a report in Variety, Toonz CEO P. Jayakumar said that the expanded business will deliver benefits that exceed the sum of the parts. He added: “This new acquisition will enable Toonz to deliver world-class end-to-end services to existing and future customers across the globe.”

Telegael’s animation credits include 'Lama Lama' and 'Kulipari' for Netflix. “The Toonz deal provides Telegael with exciting opportunities to further grow our IP and service production,” said Paul Cummins, CEO of the Irish firm. “The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group.”

The size of the Toonz stake and financial details were not disclosed.