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India’s Tata Elxsi buys Los Angeles animation company

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Further signaling India’s growing presence in Hollywood, the visual effects and engineering division of Indian conglomerate Tata is buying a majority share in a Los Angeles-based kids’ animation firm.

Tata Elxsi, which a year ago opened a visual effects studio in Santa Monica, has reached an agreement to acquire a 51% stake in A Squared Entertainment.

A Squared Entertainment is the producer of the animated TV and Web series “Secret Millionaire’s Club” with billionaire Warren Buffett and “Martha & Friends,” the upcoming series on the Hallmark Channel featuring a 10-year-old Martha Stewart.

“We’re really trying to create an animation studio of the 21st Century,”’ said children’s entertainment veteran Andy Heyward, co-president of A Squared Entertainment. “The advantage for us is to have the very best of the Hollywood entertainment community and be able to produce the animation in a very low-cost, skilled environment with a partner who has the wherewithal to do that.”

Read the full story here >>

via Los Angeles Times

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