10:03am PT by Carolyn Giardina
Streamland Keeps Up Buying Spree With Plans to Acquire Sim Post
Further shaking up the global postproduction landscape, Streamland Media plans to acquire Sim Video International’s post business.
The announcement comes on the heels of another deal that would further expand its footprint in postproduction: In January, L.A.-headquartered Streamland — the parent of leading audio post facility Formosa Group as well as Picture Shop, Picture Head, Ghost VFX, The Farm Group and Finalé Post — revealed its intent to acquire Technicolor's postproduction business for $36.5 million.
The Sim Post acquisition, like the Technicolor deal, is expected to be complete in the first half of 2021 and is backed by Trive Capital and Five Crowns Capital. Terms of the deal were not disclosed at press time.
"There will be no interruption of services to Sim Post’s clients during the integration, and all employees dedicated to the Sim postproduction business will be a part of the transition," the company said in today's announcement, though the company declined an interview.
The deal would bolster Streamland's unscripted and scripted content services in North America, with Sim's bases in Hollywood (it's based in the former Kodak complex), as well as New York, Atlanta, Toronto and Vancouver. Sim has worked on productions including The Handmaid's Tale and The Last Dance, and it also contributes to live events and will be involved in the production of the Academy Awards on April 25.
“The addition of Sim Post solidifies our commitment to creating an incomparable postproduction community that relies upon a team of talented individuals,” said Streamland Media CEO Bill Romeo in a statement.
The global postproduction business has been experiencing sizable change. In late 2020, the Company 3 postproduction businesses were acquired by U.K.-based Framestore.