Technicolor has acquired London-based The Mill, the world’s largest visual effects and content creation studio for the advertising industry, for €259 million on a debt-free basis.
Founded in 1990, The Mill is consistently recognized by peers and clients as a premier visual effects provider for both advertising agencies and brands, and has earned in excess of 1,000 industry awards. It has operations in the key markets of London, New York, Los Angeles and Chicago.
The company says the acquisition accomplishes many objectives set out in Technicolor’s Drive 2020 strategic roadmap.
“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. “In The Mill, we have found a company that aligns with our focus on excellence in talent, technology and operational performance. It is a perfect fit.”