28th Feb 2008 10:00
DQ Entertainment PLC28 February 2008 27 February 2008 DQ Entertainment plc ("DQE" or "the Company") Acquisition of stake in Method Films DQ Entertainment plc, a leading animation and gaming content production company,announces that it has entered into an agreement to acquire 20 per cent. ofMethod Films SA, France ("Method Films"). The acquisition is in line with DQE'sstrategy to invest in co-production to obtain larger percentages of the globalintellectual property and distribution rights in its productions. Method Films is a multi award winning animation concept and content creationcompany, one of the European leaders, which produces content for a number ofinternational broadcasters such as Nickelodeon, BBC, ITV, France2, France 3, ABCAustralia, etc. Method films has produced several well known TV series createdin-house and co-produced with DQ Entertainment such as Skyland, Les Gnouf,Mikido, and has rejuvenated strong international brands such as Iron Man inco-production with Marvel Entertainment & DQ Entertainment. In the year ended 31Dec 2006, Method Films generated EBIDTA of • 6.58 Mn and had net asset of •13.33 Mn on that date. Method Films and DQ Entertainment have already co-produced a number ofproductions together, including Skyland, for which they won an award at the BestAnimated FRAMES Awards in Asia in 2006. They have also produced and areco-producing several other properties such as Les Gnouffs, Jet groove, Iron man,Mikido and Pinky & Perky. This acquisition will further strengthen the businessrelations between the companies and there will be strategic business synergyleading to exponential growth. Mr. Aton Soumache, Chairman of Method Films said "We are glad to open newperspectives to this long term relationship with DQ Entertainment . DQEntertainment is a talented large production company to which we owe a lot, andit will be a central key to the future developments of our company, not only foranimation productions for various platform but for video games also. I dostrongly believe in the vast business opportunities available with thisFrench-Indian relationship for the future." Joint global projects together produced and under production has alreadygenerated• 19.89 Mn direct benefits to DQE, while, projects worth • 10.86 Mn are inserious pipeline to be worked together. Mr. Tapaas Chakravarti, Chairman & CEO of DQE said: "Our acquiring stake in Method Films is the logical next step to reinforce ourlong and successful relationship and help create one of the strongest globalanimation partnerships. This acquisition will allow DQE greater access to globalIPR funding and co-productions and logical larger percentages of the global IPand Distribution rights besides the service revenues." -ends- Enquires: Bell Pottinger 020 7861 3232Nick Lambert / Chris Hamilton DQ Entertainment +91 40 23553726Niranjan Prasad, VP Corporate Affairs Evolution Securities Limited 0207 071 4300Tom Price / Jeremy Ellis Notes to Editors • DQ Entertainment plc is a leading animation production company engaged in the production of traditional / digital animation and game art development with a substantial workforce and a global client base • DQ Entertainment plc currently produces animation for films, television series and console based games for a number of international production houses • DQ Entertainment plc has approximately 80 clients including Walt Disney Television Animation, Nickelodeon Animation Studios Inc., Electronic Arts, Marvel, American Greetings, NBC-Universal, BBC, Method Films and Take 2 Interactive • DQ Entertainment plc has very large international quality production facilities in Hyderabad, India. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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