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In a bid to consolidate their strengths, Sao Paulo-based TV and film production shingle Glaz has merged with Rio-based animation facility, Copa Studio.

The new holding, dubbed Glaz, is fueled by a seven-figure investment from Investimage 1, a fund that operates under Brazil’s tax incentive system, Funcine, created in November 2003.

The two companies’ combined expertise and robust financing is projected to drive their growth by 150% by 2017.

According to Glaz CEO Mayra Lucas, two feature toons are underway: “Haunted Tales for Wicked Kids,” a spinoff of Glaz’s hit series “Haunted Tales” for Cartoon Network Latin America, and “Trunk Train,” a spinoff of the eponymously titled series, one of the two big winners of the Brazilian government’s animation series development program AnimaTV in 2009.

“We plan to develop more animated television series as well,” Lucas said.

Before it merged with Copa Studio, the 12-year old Glaz produced “Worms,” the first stop-motion animation feature made in Brazil. Co-produced and distributed by Fox and Globo Filmes, “Worms” was released theatrically in the U.S. and France among other territories.

Glaz’s live-action romantic comedy “Wedding Craze” (“Loucas pra Casar”), a co-production with Globo Filmes, sold 3.8 million admissions to dominate the box office this year. It now ranks as the fifth-largest local box office hit in Brazil’s movie history.

Founded in 2009, Copa Studio has established itself as one of the leading animation houses among the estimated 15 toon companies in Brazil.