Phantom Digital Effects Limited (NSE: PHANTOMFX), a leading visual effects (VFX) studio, has reached a Term Sheet agreement to acquire an 80% majority stake in Tippett Studio. This acquisition grants PhantomFX operational control over the renowned visual effects production company founded by Oscar-winning filmmaker Phil Tippett. The move marks a significant milestone for both companies and the broader VFX industry.

Tippett Studio, known for its groundbreaking work on blockbuster films like JURASSIC PARK and STAR WARS, will continue operating under its established name, maintaining its commitment to delivering top-tier VFX and post-production services worldwide. The collaboration also includes PhantomFX’s commitment to retaining Phil Tippett’s involvement, leveraging his expertise to develop compelling intellectual property (IP) alongside the Tippett team, and demonstrates PhantomFX’s dedication to fostering creativity, innovation, and growth within the VFX landscape.

Gary Mundell, CEO of Tippett North America, will retain his position and join the board, along with Cliff McDowell, who will serve as COO for North America. Phil Tippett will remain actively engaged, serving on the board and contributing creatively to the studio’s projects. Tippett Canada will remain integral to the company’s operations, continuing to deliver exceptional visual effects and storytelling services. The recent launch of Tippett Productions, a Canadian-based venture focusing on original content creation, underscores the studio’s commitment to nurturing new talent and bringing captivating stories to life.

The acquisition of Tippett by PHANTOMFX is expected to drive a significant revenue increase of 20-25% during the 2024-2025 financial year. Tippett has several upcoming projects with leading Hollywood production houses and studios. This acquisition may lead to the addition of 250 to 300 employees in India, the United States, and Canada for PhantomFX, further enhancing its global footprint and capabilities.

Bejoy Arputharaj, Chairman and Managing Director of Phantom FX, shared his enthusiasm about the acquisition, stating, “I’m incredibly excited to announce the acquisition of Tippett Studio and our collaboration with Phil Tippett. Phil Tippett’s remarkable legacy in crafting cinematic wonders such as Willow, Jurassic Park, and Starship Troopers has always been a profound source of inspiration for me. This partnership not only represents a significant step forward for PhantomFX but also marks the dawn of a new era of innovation and creativity for Tippett Studio. With our combined resources, expertise, and passion, we are poised to revolutionize the VFX industry, bringing forth groundbreaking projects that will captivate audiences worldwide. With Tippett Studio’s robust pipeline of orders, we are eager to push the boundaries of what is achievable, redefine industry standards, and create enduring works of art. Our collaborative efforts will open the door to new possibilities and limitless potential for excellence. We are thrilled about the extraordinary opportunities that lie ahead and are eager to create timeless works of art.”


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