Technicolor has acquired The Mill, a UK studio specialising in visual effects and content creation for the advertising industry. Technicolor paid €259 million, on a debt-free basis, for the acquisition.
“In acquiring The Mill, we are executing on our Drive 2020 strategic objective of enhancing our market position in visual effects while improving profitability and revenue growth concurrently with accelerating deployment of emerging technologies”, said Technicolor CEO, Frederic Rose.
Technicolor is now on track to achieve its Drive 2020 objective (an Adjusted EBITDA floor of at least €500 million) by 2017.
