Digital Domain sold to China/India team

Former DD head tweets of $30M sale, though no confirmation as yet.
News, Content production


Uncomfirmed reports from the US claim that Digital Domain, which filed for bankrutcy protection earlier this month, is believed to have been jointly acquired by a Chinese/Indian team consisting of China's Galloping Horse and India's Reliance.

Although DD has not yet confirmed the news, a tweet from former DD boss Scott Ross claimed yesterday that the sale price was $30.2 million. Galloping Horse acquired 75% of the company, Reliance the remaining 25%.

The sale is believed to include DD's Los Angeles and Vancouver vfx operations - as yet no details have emerged regarding the firms recently opened twofour54 venture.

Galloping Horse and Reliance both had existing partnerships with DD - In July 2011 a DD/Reliance pact put DD's visual effects facilities inside Reliance's offices in London and Mumbai, giving DD the capacity for a round-the-clock global pipeline. The joint offices also worked on 2D-to-3D conversion.

Partnership's between Hollywood and companies in India or China are nothing new, however this is the first time a major Hollywood vfx company has been under Indian or Chinese ownership.

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