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Digital Domain 3.0 Becomes Part of Sun Innovation
Posted By : Animation Galaxy At 29-07-2013 11:39:56
Tags : Digital Domain Sun Innovation
Hong Kong-Listed Company Sun Innovation Acquires 70% Share in Digital Domain 3.0; Reliance MediaWorks Continues to Own Minority Stake in Digital Domain 3.0
Academy Award winning visual effects company Digital Domain 3.0, Inc. announced that it has become a part of Hong Kong-based and listed company Sun Innovation. This development follows Sun Innovation’s acquisition of the parent company of Galloping Horse U.S., which owned a 70% share of Digital Domain 3.0’s business, for approximately $50.5 million (U.S.) for equity shares. Reliance MediaWorks continues to own a minority stake (30%) in Digital Domain 3.0, while Galloping Horse-Reliance, LLC also remains in the ownership chain of Digital Domain 3.0.
Founded in 1992, Sun Innovation is a Hong Kong-based and listed company that recently formed a strategic partnership with Beijing Galloping Horse, a leading film and television company in China. With its acquisition of Digital Domain 3.0, Sun Innovation intends to expand its reach, playing a significant role in the growing international feature film markets and developing new digital media experiences for consumers in entertainment, advertising, cultural and media environments worldwide.
“We believe absolutely that Digital Domain 3.0 can bring the expertise it has developed over the past two decades to audiences worldwide who are hungry for big visual effects movies and new digital experiences to go along with them,” said Jian Zhou, Chairman of Sun Innovation. “Digital Domain 3.0 has the leadership, talent, infrastructure and resources to bring teams together and manage complex digital productions around the world. The company is an ideal fit for Sun Innovation as we launch into this space.”
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