Toonz Entertainment has entered into an agreement to acquire Imira Entertainment.
The agreement will see the animation studio take over 100 per cent of the Spanish production and distribution company.
Imira will continue to operate as a separate production and distribution entity, but the two firms will work together to create further content and global distribution.
Imira will then handle television and licensing rights for Toonz Animation content across Europe, US, Latin America, while Toonz will use its relationships in Asia and Pacific territories on behalf of Imira.
Toonz Animation is the oldest and largest animation studio across India and has already partnered with other big names including Disney, Universal, Turner Boradcasting, Sony, BBC, Lionsgate, Marvel and Nicktoons.
“Adding Imira Entertainment to the Toonz Group brings significant complementary services and areas of expertise to our offering,” said P. Jayakumar, CEO of Toonz Animation.
“Sergi and his team have a tremendous track record and we look forward to working with them to leverage our combined strengths.”
Sergi Reitg, CEO of Imira Entertainment, added: “Toonz Animation has a world class pedigree in television and film.
“It is an exciting home for Imira Entertainment and a natural fit, and we are looking forward to working with our new colleagues to maximize the potential of our partnerships.”