HONG KONG - Indian animation group Toonz Entertainment has announced plans to acquire Spain's Imira Entertainment.
It is understood that Toonz will take 100% control of the Spanish firm which is both producer and distributor.
Although in the near term Imira will operate as a separate business, it is understood that Toonz and Imira will handle share distribution tasks, with Imira representing Toonz Animation content in Europe, the U.S., Latin America and Africa, and Toonz playing to its strengths in the Asia Pacific region.
Toonz may also become a co-producer of some Imira titles.
Imira is best known for children's TV shows including "Lucky Fred," and "Sandra the Fairytale Detective."
"Adding Imira Entertainment to the Toonz Group brings significant complementary services and areas of expertise to our offering," said Toonz CEO, P Jayakumar.
"Toonz Animation has a world-class pedigree in television and film. It is an exciting home for Imira Entertainment and a natural fit," said Imira CEO Sergi Reitg.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
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