Paris (France)—Jul 27, 2011
Technicolor Expands its Post Production Capacities on West Coast with the Acquisition of LaserPacific
Accelerates Technicolor’s growth in television & theatrical post production
Technicolor (Euronext Paris: TCH) today announces the acquisition of LaserPacific’s postproduction assets as part of its plans to grow its television (broadcast) and theatrical digital post production market position. As part of the transaction, key LaserPacific creative talent and personnel from its Hollywood-based operations will be transferred, reflecting Technicolor’s commitment to the recruitment of creative talent to deliver the highest quality services to its clients.
Frederic Rose, CEO of Technicolor, commented; “The acquisition of LaserPacific’s assets is in line with our commitment to support the transition of our customers to digital technologies. It reinforces our key position in broadcast digital post production and extends our world-class creative talent pool, while further strengthening our long-standing relations with filmmakers and studios.”
The agreement reinforces Technicolor’s presence in broadcast post production with an increase of 40% in the number of total television series serviced; and will further enhance the company’s presence in theatrical, marketing (trailers) and library mastering. The transaction will also extend Technicolor’s reach and engagement with filmmakers through a first-class digital intermediate facility located in West Los Angeles.
Subject to the satisfaction of certain closing conditions, the transaction is expected to close at the end of August 2011. Financial terms of the transaction are not disclosed.