Toonz buys into Irish Producer Telegael

Indian animation company Toonz Media Group has acquired a minority stake in the kids'-content producer Telegael in Ireland, further enlarging its international footprint after the acquisition of Spanish animation studio Imira. Trivandrum-based Toonz 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. Telegael and Toonz are already working together, partnering to co-produce 52-part CGI comedy “Mondo Yan” alongside Imira, which is handling distribution. P. Jayakumar, CEO, Toonz, said this new acquisition will enable Toonz to deliver world-class end-to-end services to existing and future customers across the globe. Paul Cummins, CEO of the Telegael, said: “The Toonz deal provides Telegael with exciting opportunities to further grow our IP and service production. “The deal offers substantial synergies and the opportunity to be part of a large vertically integrated global entertainment group.”