DHX MEDIA TO ACQUIRE NERD CORPS
Deal adds experienced team, animation capacity and library titles
Halifax, Toronto, Vancouver, Los Angeles, London. 2.12.2014. DHX Media, a key player internationally in the creation of content for families and children, announced today that it has entered into an agreement to acquire Vancouver-based Nerd Corps Entertainment Inc. and its subsidiaries for approximately $57 million. The transaction is anticipated to close by December 24, 2014.
The acquisition increases DHX’s operating leverage, adding Nerd Corps’ animation studio in Vancouver, BC, which features five lines of production, as well as Nerd Corps’ interactive apps, gaming expertise, and licensing opportunities with Nerd Corps’ brands. The transaction brings more than 200 half hours of proprietary children’s content to DHX’s library, including the hit comedy adventure series, Slugterra, which has been broadcast in more than 150 countries and is one of the most popular titles on Disney XD in both Canada and the US. The deal includes licensing and distribution rights for all proprietary Nerd Corps series. The acquisition will increase DHX’s staff level in Vancouver from approximately 300 to 700 personnel.