Digital Domain sold to China/India team

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

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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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