Technicolor buys the Mill effects company
The new Technicolor building in Hollywoodz.
Technicolor, the French-owned media and production services company, has acquired The Mill, the British visual effects studio known for its work with the advertising industry.
Technicolor announced Tuesday that it paid $292 million to buy the Mill, the London-based company that also has operations in Los Angeles, where it has a large facility in Hollywood, as well as New York and Chicago.
Founded in 1990, the Mill has received numerous industry awards for its work for advertising agencies and brands, including spots to promote popular video games such as “Call of Duty: Black Ops 2.â€
The company has 800 employees and has enjoyed rapid growth. Since 2009, revenues have grown 16% to reach $152 million in 2014, Technicolor said.
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The deal is part of Technicolor’s strategy to expand its ties with advertisers and build out its visual effects business. Technicolor already owns the London-based visual effects house MPC.
The acquisition also gives Technicolor access to the Mill’s emerging technologies, such as creating virtual reality content.
“In the Mill, we have found a company that aligns with our focus on excellence in talent, technology and operational performance,†said Technicolor Chief Executive Frederic Rose in a statement. “It is a perfect fit.â€
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