Xilam Animation has entered exclusive negotiations for the acquisition of 50.1 per cent of the shares and voting rights of Cube Creative, a French animation production company specialising in CGI and 3D.
The purchase is expected to be made in cash and conclude by the end of this year, reported in Xilam’s 2020 financials.
The acquisition would be a big step for Xilam’s strategy of accelerating production of CGI animated programming, bringing technology and talented team of experts to the firm. The proposed acquisition would allow Xilam to continue to increase delivery of its animated content and accelerate this process over the medium term.
Marc du Pontavice, Xilam’s Chairman and Chief Executive Officer, says: “This first acquisition proposal fits perfectly with our business plan and will strengthen our strategic lead thanks to Cube Creative’s unique expertise in cgi animation.
“The excellent reputation of the company’s teams has been built on their creativity, their adaptability and their complete mastery of the latest technologies. We are impatient to begin working alongside them to contribute to the production of our future global hits.”
Founded in 2002, Cube Creative is an integrated digital animation studio working across a wide variety of formats: shorts, clips, adverts, large screen 3D films, series and features. Its clients include famous brands as varied as Cartier to Kelloggs, as well as amusement parks and major French TV channels. For a number of years now, Cube Creative has successfully developed proprietary productions such as the Athleticus series broadcast on Arte and Kaeloo airing on Canal+, Teletoon+ and C8, and has a number of high-quality projects in development.
The founding directors will retain 49.9 per cent of the capital and will remain fully operational within the company.
Lionel Fages, co-founder of Cube Creative, says: “With the teams here at Cube Creative preparing to pull off the challenge of building on our role as an upscale service provider to add the creation of IP and proprietary production, we are looking forward to joining the Xilam Animation group with pride and enthusiasm.
“This move will give us access to editorial and marketing expertise in the global market. Our teams and talents represent an excellent fit and our combined expertise will allow the group to become even more innovative in its production and to tackle new challenges together.”