Squirrel Media announced today (Thursday, 13 April) that it has reached an agreement with Mondo TV S.p.A – one of the largest European producers and distributors of animated content – through a binding letter of intent for the integration into Squirrel Media of Mondo TV Studios. The deal will see Squirrel Media purchase 74.24 per cent of Mondo TV Studios.
Squirrel Media is a communication technology group. It works globally across four main business areas: advertising, communication media, content (creation and distribution of all types of audiovisual content) and technology (TMT services).
“The acquisition of Mondo TV Studios, with its animation studio and its catalogue, is deeply valuable for our growth strategy, since it will mean adding to the group one of the largest European producers and distributors of animation content,” pointed out Squirrel Media president Pablo Pereiro Lage. “In addition, it will consolidate our leadership in the creation and distribution of content in Spanish, Portuguese and Italian.”
Under the terms of the agreement, Mondo TV Studios would become part of a leading Spanish group in technology within the media sector. The company would join Squirrel Media’s content business segment, creating a new animation vertical to produce and distribute new IPs, and at the same time offer animation services as a recurring activity engine, along with the distribution of animated content. It would also develop and build on synergies with the other business units that make up the Squirrel Media Group.
Mondo TV Studios will retain its brand identity and entire organisational structure, maintaining the management team led by CEO Maria Bonaria Fois along with the operational team.
Mondo TV Studios CEO Maria Bonaria Fois added, “The integration of Mondo TV Studios into a group with exponential growth projections such as Squirrel Media is an undoubted high point for our strategic growth plans. We are grateful to Mondo TV Group for supporting us throughout all these years and helping us to reach this stage in our development. We are proud of our achievements and looking forward to a very bright future. We will continue to work hard on our traditional business lines, exploring synergies with the other Squirrel Media companies, as well as offering our much-admired international animation services and continuing to develop IPs that add value.”
Patricia Motilla from the Andersen law firm advised on the IP and tax elements of the deal. Jaime Aguilar from the same firm advised on the corporate elements of the deal.
