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TeamTO President Guillaume Hellouin Explains Why His Company Has Agreed to a Riva Studios Buyout (EXCLUSIVE)
TeamTO President Guillaume Hellouin explains the factors that led to the proposed sale of the French indie animation studio to Italy's Riva Studios.
French indie animation powerhouse TeamTO, which announced insolvency in September, has accepted an acquisition bid from Milan-based Riva Studios, which is subject to approval from the Tribunal Commerce de Paris. Exact details of the acquisition are still being ironed out and subject to regulatory approval, but the plan right now is for TeamTO leadership to remain largely intact and to keep the pipeline flowing as it has been for the past couple of years, but at a lower cost. It will enable the teams to bounce back on solid footing with a shareholder base that has the resources to sustain the business while retaining its world-renowned talent, together with the support of its long-standing, well-established clients and partners.”
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