The Hindu Business Line : Color Chips ties up with German firm

COLOR Chips India Ltd, the Hyderabad-based animation solutions provider, has signed up with BKN International AG, Germany, for a 2D-animation project. The company claimed that the deal is valued at $2.5 million (about Rs 11 crore).

The co-production agreement was entered between the two for the production of the show entitled — Legend of the Dragon, a 26-half episode series, that is produced and created by Mr Richard Ungar, former President of Marvel Character Group.

As per the terms of agreement, Color Chips is expected to provide the animation services from layout to rushes, including key animation material, clean-up and related services. In return, Color Chips shall be paid about $1 million in cash in addition to 16 per cent profit participation for global shows and sole rights for the territory of India, according to a company spokesperson.

Color Chips has also been given the rights for India, Japan, South Korea, Pakistan, Russia, Turkey, Vietnam, Fiji, Mauritius, Sri Lanka, Thailand and the Philippines for the shows titled — Caper Town Cops, Scruff and Ubos.

BKN and its subsidiaries are engaged in the production, distribution and marketing of children's animated television programmes and the merchandising licences of the rights of these programmes.

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