Xilam Enters Exclusive Negotiations to Acquire Cube Creative
Xilam Animation has entered exclusive negotiations for the acquisition of Cube Creative, a French animation production company specializing in computer generated images and 3D.
The potential acquisition would allow Xilam to continue to increase delivery of its animated content and accelerate distribution over the medium term. If completed, Xilam would hold 50.1 percent of the shares and voting rights of Cube Creative.
“This first acquisition proposal fits perfectly with our business plan and will strengthen our strategic lead thanks to Cube Creative’s unique expertise in CGI animation,” says Marc du Pontavice, chairman and chief executive officer, Xilam. “The excellent reputation of the company’s teams has been built on their creativity, their adaptability and their complete mastery of the latest technologies. We are impatient to begin working alongside them to contribute to the production of our future global hits.”
Founded in 2002, Cube Creative is an integrated digital animation studio working across a wide variety of formats: shorts, clips, adverts, large screen 3D films, series and features. Its clients include brands such as Cartier, Lu, Total, Kelloggs and Skoll as well as amusement parks and major French TV channels. As part of terms of the deal, Cube Creative founding directors will retain 49.9 percent of the capital and will remain fully operational within the company.
“With the teams here at Cube Creative preparing to pull off the challenge of building on our role as an upscale service provider to add the creation of IP and proprietary production, we are looking forward to joining the Xilam Animation group with pride and enthusiasm,” says Lionel Fages, co-founder, Cube Creative. “This move will give us access to editorial and marketing expertise in the global market. Our teams and talents represent an excellent fit and our combined expertise will allow the group to become even more innovative in its production and to tackle new challenges together.”
Xilam and Cube Creative intend to conclude the acquisition before the end of the current year, with full consolidation in Xilam’s financial statements in 2020.