Squirrel Media buys Italian animation production company Mondo TV Studios

By signing a binding Letter of Intent, the Spanish Squirrel Media takes over 74.24% of shares of World TV Studios in the hands of the Italian parent company, Mondo TV.

The signed document reflects Squirrel's intention to acquire up to 100% of the shares through one or several non-monetary capital increases.

The potential integration of Mondo TV Studios into Squirrel will mean it will become part of a multinational communication technology group that works globally and transversally through its four main business areas: Advertising, Media, Content (creation and distribution of all type of audiovisual content) and Technological area (TMT services).

According to the incorporation agreement, Mondo TV Studios will join the group's Content business segment, creating a new animation vertical for produce and distribute new IPs, and, at the same time, offer animation services as a driver of recurring activity, along with the distribution of animated content, and materializing synergies with the other business units.

“The acquisition of Mondo TV Studios, with its animation studio and catalogue, is deeply valuable for our growth strategy, as it will mean adding one of the largest European producers and distributors of animation content to the group,” he highlights. Pablo Pereiro Lage, president of Squirrel Media. “In addition, it will consolidate our leadership in Spanish, Portuguese and Italian language content creation and distribution,” he adds.

Maria Bonaria Fois, CEO of Mondo TV Studios, added that “the integration of Mondo TV Studios into a Group with an exponential growth projection like Squirrel Media represents the consolidation of our performance to reinforce the strategic growth of our company. We thank Mondo TV Group for having supported us throughout all these years and allowed us to reach this day. Today we are proud of the achievements we have achieved and excited for everything that is to come. “We will continue to work hard in our traditional business lines, exploring synergies with the other Squirrel Media companies, as well as attracting international animation services and continuing to develop IPs that add value.”

Mondo TV Studios joins Squirrel Media with the permanence of the brand and the entire organizational chart and management team, therefore maintaining the management team led by CEO Maria Bonaria Fois and the operational team.

The Italian production company achieved record growth in 2022, reaching 4.6 million euros of turnover, driven by an important distribution contract closed with RAI, which is expected to continue playing a relevant role in the future behavior of the turnover in 2023 and 2024. net financial debt excluding tax rebate advances decreased by 21%, going from 3.4 million in 2021 to 2.7 million in 2022.

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