Reliance MediaWorks acquires ilab UK
Company earmarks investments for London facilityNEW DELHI -- Mumbai-based film and entertainment services company Reliance MediaWorks Ltd. said Thursday that it has strengthened its international presence by acquiring London-based film processing facility ilab UK.
Located in London's Soho film district, the facility will now be called Reliance MediaWorks UK, and will offer front-end, processing, restoration, 2D-to-3D conversion and postproduction services to broadcasters and studios.
Without giving specific investment figures, RMW CEO Anil Arjun told The Hollywood Reporter: "We have fully acquired ilab UK, and in addition to the acquisition amount we have also earmarked further investments for this facility."
Arjun added that Reliance MediaWorks U.K. "would provide next-generation services for local filmmakers and broadcasters, while also catering to Hollywood and Hindi film businesses."
The ilab acquisition gives RMW, owned by DreamWorks partner Reliance Big Entertainment, a footprint in the U.K. following the group's acquisition in 2008 of California-based film-restoration specialist DTS Digital Images (Lowry Digital Images) for about $7.5 million.