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Streamland Media has completed its acquisition of Sim Video International’s postproduction business, roughly three months after it acquired Technicolor’s post business. Terms of the deal were not disclosed.
Plans for the Los Angeles-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 — to acquire Sim were first announced in April. The Sim Post acquisition, like the Technicolor deal, was backed by Trive Capital and Five Crowns Capital. Technicolor Post was purchased for $36.5 million.
Sim Post’s personnel join Streamland’s picture and sound divisions–meaning the moniker “Sim Post” will not be used going forward–according to Friday’s announcement. Sim maintains facilities in Hollywood (it’s based in the former Kodak complex), New York, Atlanta, Toronto and Vancouver — and with its New York base, would give Streamland a new presence in that market.
Sim has worked on productions including The Handmaid’s Tale and The Last Dance, and its live events work includes the Academy Awards broadcast and upcoming Global Citizen Live event on Sept. 25.
Said Streamland CEO Bill Romeo: “We’re excited to welcome Sim Post’s outstanding team into our community. This alliance further strengthens our devotion to nurturing creativity and providing clients a true partnership that is unparalleled in postproduction. With our globally expanded talent pool and footprint, we remain focused on elevating the services and solutions our collaborators need.”
The global postproduction business has been experiencing sizable change. In late 2020, the Company 3 postproduction business and its sister companies were acquired by U.K.-based Framestore.
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