Business
WILDBRAIN COMPLETES HOUSE OF COOL ACQUISITION, SIGNIFICANTLY EXPANDING AND ENHANCING ITS PRE-PRODUCTION CAPABILITIES
WILDBRAIN COMPLETES HOUSE OF COOL ACQUISITION, SIGNIFICANTLY EXPANDING AND ENHANCING ITS PRE-PROD...
About this update from Wildbrain Ltd.
[{"type":"text","content":"\n \n \n \n WILDBRAIN COMPLETES HOUSE OF COOL ACQUISITION, SIGNIFICANTLY EXPANDING AND ENHANCING ITS PRE-PRODUCTION CAPABILITIES\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Founders\n \n Wes Lui\n \n and\n \n Ricardo Curtis\n \n join WildBrain Studios in newly created roles of\n \n \n Co-General Managers of House of Cool\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 19, 2023\n \n \n /CNW/ - WildBrain Ltd. (\"\n \n WildBrain\n \n \" or the \"\n \n Company\n \n \") (TSX: WILD), a global leader in kids' and family entertainment, has closed its previously announced acquisition of House of Cool, one of the top pre-production companies in the global animation industry. A strategic extension of WildBrain's focus on creative excellence, the acquisition significantly expands and enhances the Company's pre-production capabilities for premium animated series, specials and features.\n \n \n \n \n \n \n \n \n \n Under the agreement, WildBrain has acquired full ownership of House of Cool for consideration of\n \n $15.5 million\n \n , with\n \n $10.25 million\n \n through the issuance of 4,479,406 WildBrain shares and the remainder in cash (subject to a customary working capital adjustment). Additionally, there is a potential earn-out of up to\n \n $6 million\n \n based on collection of certain tax credits earned by House of Cool up to closing.\n \n \n Bringing their deep experience and creative expertise, House of Cool executives and co-founders,\n \n Wes Lui\n \n and\n \n Ricardo Curtis\n \n , have joined the WildBrain Studios senior management team in the newly created roles of Co-General Managers of House of Cool.\n \n \n \n Josh Scherba\n \n , President and CEO of WildBrain, said: \"We're delighted to close our acquisition of House of Cool and to officially welcome Wes, Ricardo and their talented team to WildBrain. House of Cool is recognized as one of the very best pre-production houses in the global animation industry, and this highly complementary acquisition meaningfully broadens and deepens Wi...