Technicolor Creative Studios spins out as a public company with heavy focus on games and $1B value
Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.
Technicolor Creative Studios is spinning out of its parent firm as a standalone public company on the Paris Euronext Stock Exchange at a valuation above $1 billion.
The multimedia services company has a global network of creative studios and it will focus on the creation of feature film, episodic, gaming and advertising content. The firm will have nearly 12,000 employees, many of them artists based in places such as India.
The company is based in Paris, and it has numerous studios around the globe that assist game, film, and advertising companies with art, testing, and other development services. They include award-winning global visual effects (VFX), animation and gaming studios MPC, The Mill, Mikros Animation and Technicolor Games.
“Spinning off is gonna make it a lot easier to move more quickly in this space and really be an advocate with clear a vision,” said Jeaneane Fakler, president of games at Technicolor Creative Studios, in an interview with GamesBeat. “When you have a clear vision for something, it’s easier for people to get behind that. That is to be the first choice production company for the creative space.”
GamesBeat Summit Next 2022
Join gaming leaders live this October 25-26 in San Francisco to examine the next big opportunities within the gaming industry.
Under the deal, Technicolor Creative Studios will be publicly traded, and it is distributing 65% of its shares to Technicolor shareholders. The parent company, now called Vantive, will own 35%.
Starting today, Technicolor Creative Studios will trade publicly under the symbol TCHCS
Read more on venturebeat.com
