VENICE, Calif.--(BUSINESS WIRE)--Academy Award®-winning visual effects company Digital Domain 3.0, Inc. announced today that it has become a part of Hong Kong-based and listed company Sun Innovation (HKSE: 547). This development follows Sun Innovation’s acquisition of the parent company of Galloping Horse U.S., which owned a 70% share of Digital Domain 3.0’s business, for approximately $50.5 million (U.S.) for equity shares. Reliance MediaWorks (BSE: 532399, NSE: RELMEDIA, ISIN: INE540B01015) continues to own a minority stake (30%) in Digital Domain 3.0, while Galloping Horse-Reliance, LLC also remains in the ownership chain of Digital Domain 3.0.
Founded in 1992, Sun Innovation is a Hong Kong-based and listed company that recently formed a strategic partnership with Beijing Galloping Horse, a leading film and television company in China. With its acquisition of Digital Domain 3.0, Sun Innovation intends to expand its reach, playing a significant role in the growing international feature film markets and developing new digital media experiences for consumers in entertainment, advertising, cultural and media environments worldwide.
“We believe absolutely that Digital Domain 3.0 can bring the expertise it has developed over the past two decades to audiences worldwide who are hungry for big visual effects movies and new digital experiences to go along with them,” said Jian Zhou, Chairman of Sun Innovation. “Digital Domain 3.0 has the leadership, talent, infrastructure and resources to bring teams together and manage complex digital productions around the world. The company is an ideal fit for Sun Innovation as we launch into this space.”
About Digital Domain 3.0
Founded in 1993, Digital Domain has delivered innovative visuals for more than 100 movies including “Iron Man 3,” the “Transformers” trilogy, “TRON: Legacy” and “Titanic.” Its artists have earned multiple Academy Awards®. A creative force in a variety of media, Digital Domain 3.0 has brought its artistry to thousands of commercial, videogame and music video productions. The company has also created digital humans for concert performances and is co-producing the upcoming feature film “Ender’s Game.” From facilities in California and Vancouver, BC, Canada, including its own state-of-the-art virtual production studio, the new Digital Domain 3.0 continues the tradition of creating extraordinary visual imagery in entertainment and advertising. www.digitaldomain.com
About Sun Innovation
Founded in 1992, Sun Innovation is a Hong Kong-based and listed company that recently formed a strategic partnership with Beijing Galloping Horse, a leading film and television company in China. With its acquisition of Digital Domain 3.0, Sun Innovation intends to expand its reach, playing a significant role in the growing international feature film markets and developing new digital media experiences for consumers in entertainment, advertising, cultural and media environments worldwide. www.suninnovation.com
About Reliance MediaWorks
Reliance MediaWorks Limited is a film and entertainment services company and a member of the Reliance Group. Reliance MediaWorks is one of India’s leading entertainment and media companies with a presence across several businesses such as theatrical exhibition of films, film and media services and television content production and distribution. The company’s operations are spread across India, the UK and the United States. www.reliancemediaworks.com