DHX Media has made a shock swoop for Cookie Jar Entertainment, acquiring the business, its programming library and licensing arm CPLG.
The deal creates Canada's largest independent children's entertainment company.
The combined firm will own more than 8,550 half hours of programming, with properties including Yo Gabba Gabba, Rastamouse, Inspector Gadget, Caillou, Strawberry Shortcake, Care Bears, The Doodlebops and Johnny Test.
The deal also includes Cookie Jar's licensing division - CPLG has eight offices and 125 employees worldwide. This includes a major presence in Hammersmith, London.
The transaction implies an enterprise value for Cookie Jar of $111 million. The deal is expected to be completed in mid October.
"This deal significantly enhances our operations in key areas," said Michael Donovan, CEO of DHX Media. "The acquisition of Cookie Jar increases our global reach, scale and potential growth."
Michael Hirsh, CEO of Cookie Jar, added: "Cookie Jar joining forces with DHX results in a company that is an independent global market leader in all aspects of children's entertainment, from distribution to production to licensing and merchandising.
"There is an insatiable appetite for kids content in the new digital streaming universe and we are very well positioned with our extensive library of evergreen, popular and recognisable brands to satisfy the market demand."
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