NEW DELHI: French firm Thomson has acquired a controlling stake in Bangalore-based Paprikaas Animation Studios to spread its footprint in the country’s entertainment industry.
The deal has been sealed through Thomson’s Technicolor Content Services business. Paprikaas offers creative, technical and production capabilities to design and produce computer animation for feature films, television programming, commercials, and video games, with a strong focus on 3D content.
Ahmad Ouri, president of Technicolor Content Services, said, “Technicolor Content Services has been looking to capture a larger share of the growing market trend toward outsourcing in theatrical, broadcast, commercial advertising, animation and video game segments.
Paprikaas has proven that its animation and its game content creation work consistently meets our high standards, enabling us to further expand our capabilities and global reach, while also achieving cost efficiencies.”
Paprikaas currently has over 150 employees; it will double the work force in the next 12 months. Thomson also plans to extend the company to other destinations in India and it is currently eyeing Mumbai and Chennai.
“This move will ensure Thomson’s initiative to expand its services to content owners and to broaden its scope of offerings for the film, broadcast and gaming communities. This deal also provides Thomson with a strategic platform from which to access the fast- growing Indian media and entertainment market,” said, Thierry Pasquet, vice-president, Thomson for India.
According to NASSCOM, the market size of the global animation industry (from the demand perspective) is expected to witness a CAGR (compounded annual growth rate) of 8% and is estimated to touch $ 75 billion by 2009.
The size of the Indian animation market (from the developers perspective) is expected to witness a CAGR of 35% and estimated to be $950 million by 2009.
