|
MUMBAI:
Hyderabad-based DQ Entertainment is setting up a 50:50 joint
venture with Telegael Teoranta, a company in Ireland that
specialises in pre-production and post production services.
This
is part of DQ's strategy to grow through acquisitions, strategic
investments and joint ventures with creative companies to
ensure co-development of global intellectual property on a
partnership basis.
For
assuring a product pipeline, DQ has already entered into a
51:49 per cent joint venture with France's animation powerhouse
Onyx Films to produce high-end CGI feature films. It is also
engaged in advanced negotiations to acquire up to 20 per cent
stake in Method Films, a sister concern of Onyx, and is currently
undertaking due diligence.
"DQ
has signed a memorandum of understanding with Telegael Teoranta
to set up an equal joint venture," an industry source
said.
DQ
Entertainment MD and CEO Tapaas Chakravarti was not available
for comment.
The
animation and gaming company is set to tap the Alternative
Investment Market (AIM) of the London Stock Exchange (LSE)
to raise $60 million. The IPO (initial public offering) money
will be used for funding films, acquisitions, joint ventures
and new production around facilities.
DQ's
activities are currently focussed on the production of animated
content, either on an outsourced or a co-production basis.
The company believes that offering pre-production and post
production services will add value, enabling it to generate
and take a share in the intellectual property it produces.
The company, thus, intends to diversify its range of offerings
to include such services.
DQ
Entertainment's revenues have grown from $6.8 million in 2005
to $15.2 million in 2007, representing a CAGR of approximately
50 per cent.
The
company recently announced its plans to produce a live action
feature film every year, starting from 2008 along with an
animated TV series every 18 months. It is also planning to
consolidate its position in the gaming segment, covering the
gamut of 3-dimension console games, mobile games and online,
web-based interactive games.
DQ
Entertainment services clients like Walt Disney TV, Marvel,
BBC and Nickelodeon.
|
