WildBrain completes acquisition of House of Cool

WildBrain Ltd, a global leader in children's and family entertainment, has completed its previously announced acquisition of House of Cool, one of the leading pre-production companies in the global animation industry.

The acquisition represents a strategic expansion of WildBrain's focus on creative excellence and significantly expands the company's pre-production capabilities for high-quality animated series, specials and feature films.

Under the terms of the agreement, WildBrain acquired full ownership of House of Cool for a purchase price of $15.5 million, with $10.25 million paid through the issuance of 4,479,406 WildBrain shares and 

the balance in cash (subject to customary working capital adjustments). In addition, there is the potential for up to $6 million in profit sharing resulting from the recovery of certain tax credits earned by House of Cool through the closing of the transaction.

House of Cool executives and co-founders Wes Lui and Ricardo Curtis bring their years of experience and creative expertise to the WildBrain Studios leadership team, 

taking on the newly created position of Co-General Manager of House of Cool.

Toronto-based House of Cool is an industry leader in pre-production, an important early planning stage in the life of a feature film or series where story is developed and 

creative decisions are made to set the look, feel, style and pacing of a project, creating the blueprint for the launch of full production. 

The House of Cool brand will be maintained as a separate identity under the WildBrain umbrella.

Source: www.wildbrain.com