A French commercial court greenlit Technicolor’s bid to take over audio companies Auditorium of Joinville (ADJ) and SIS as well as post-production house Scanlab, which provides digital conversion, including VOD and digital cinema package mastering.
Technicolor previously owned 17% of Tarak Ben Ammar’s Quinta Industries — which went bankrupt last month — but didn’t have an operational role.
“Technicolor is already a world leader in digital post-production and distribution, notably in Hollywood, Canada, Italy, U.K., Spain and Asia, and we were looking for an opportunity to strengthen our position in France, which has one of the world’s most powerful film industries,” said Michel Vaquin, prexy of Technicolor Entertainment Services France, the recently launched banner that will regroup the former Quinta companies.
Added Vaquin, “It makes perfect sense for us to have a larger presence in France, especially since our headquarters are in Paris and we’re listed on the Paris stock market.”
Technicolor aims to earn €10 million ($13 million) this year from its Gallic arm, Technicolor’s CEO Frederic Rose told business trade Les Echos.
Vaquin said the company will use its credibility, research resources, vast network and expertise to turn the French shingles into profit-making outfits.
Technicolor will keep on 70% of ADJ, SIS and Scanlab’s workforce — some 34 staffers.
In addition, Technicolor is bidding to acquire Quinta’s Duboi, Gaul’s top vfx and post-production shingle.
If the sale is approved by the courts, Technicolor will hire 20 more staffers from Duboi.
Technicolor Entertainment Services France has also announced the opening of a dubbing facility for film and TV content near Paris.