Animation producer WildBrain has unveiled a deal to acquire House of Cool for $15.5 million in Canadian cash and stock (about $11.3 million in U.S. dollars). The owner of Teletubbies will pay for the transaction with $10.25 million in issued WildBrain shares and $5.25 million in cash. The management of Toronto-based House of Cool also has an earn-out of up to $6 million based on the future collection of outstanding production tax credits from the closing of the deal. House of Cool specializes in early-stage animation pre-production, which develops and sets creative choices on the look, feel, style and pacing of an animated project ahead of full production. As part of the deal, House of Cool co-founders Wes Lui and Ricardo Curtis will be joining the WildBrain Studios senior management team as co-general managers of their company, and reporting to Josh Scherba, president of WildBrain, who oversees the content and studio businesses. “The acquisition also establishes a new entry point for IP owners to engage with WildBrain’s 360-degree offering across production, distribution and consumer products licensing,” Scherba said in a statement on Tuesday. “As a fiercely independent operator for the last two decades, it would require something special for House
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Animation Studio House of Cool Sells to Teletubbies Owner WildBrain In $11.3M Deal
