Imagi in $130 million Toon Express buy
Imagi International, the restructured Hong Kong-based animation group, is to use its stock-market listing to buy its way into China. The company is to pay up to HK$1.05 billion ($130 million) to buy Toon Express, brand-manager of Pleasant Goat and Big Big Wolf.
Made with rudimentary animation techniques, the The Pleasant Goat concept has been a runaway hit as a TV series, a feature film franchise and even as a stage show. Imagi will pay an initial HK$814 million ($105 million) for the company and a possible further HK$233 million ($30 million) of earn-out payments dependent on Toon Express’ profits over the next two years.
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