Eastman Kodak Co.’s Cinesite digital visual effects house has been sold to a private-equity firm.
Firm Endless LLP, based in the United Kingdom, purchased Cinesite for an undisclosed amount. The deal involves Cinesite’s existing management team.
Cinesite is the latest Kodak asset sold as the company reorganizes under Chapter 11. Kodak filed for bankruptcy Jan. 19.
The new investors will enable Cinesite to expand its footprint in the media and entertainment industry, Cinesite officials said. It gives Cinesite the resources and stability to fulfill a long-standing desire to expand the company into new territories, diversify its services and expand its global position in the media and entertainment industry.
Cinesite produced the visual effects behind some of the world’s most successful films and television series, including the Harry Potter films.
“I feel that we are moving Cinesite into a new era,” said Antony Hunt, managing director of Cinesite, in a statement. “The partnership with Endless LLP is a great strategic move for both parties and we’re delighted to have their support and investment behind us.”
Garry Wilson, managing partner at Endless, said: “Cinesite is one of the world’s most respected visual effects companies. …We’re excited to be helping Cinesite with its next stage of growth and are convinced our partnership will help them continue to expand their long-standing and successful global brand.”
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