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VFX and Animation Studio Cinesite Raises $215 Million On the Heels of Technicolor Collapse

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The Cinesite group, a global visual effects and animation studio collectives, has raised $215 million through a series of transactions "to support its continued operations, technological innovation and strategic expansion" during a turbulent time for the VFX industry that in recent weeks saw the collapse of VFX giant MPC and its parent company Technicolor.
Cinesite, a prominent VFX and animation studio, has successfully raised $215 million in funding, as reported by Deadline. This financial boost comes at a crucial time following the collapse of Technicolor, a major player in the industry. The investment, led by private equity firm Streamlined Ventures, aims to support Cinesite's expansion plans, including the development of new facilities and the enhancement of its technological capabilities. This move not only strengthens Cinesite's position in the competitive visual effects market but also underscores the growing demand for high-quality VFX and animation services in film and television. The funding will help Cinesite to continue its operations smoothly and potentially acquire assets or talent from the now-defunct Technicolor, thereby possibly filling the void left by its competitor's downfall.

Read the Full Variety Article at:
[ https://www.msn.com/en-us/money/companies/vfx-and-animation-studio-cinesite-raises-215-million-on-the-heels-of-technicolor-collapse/ar-AA1ARz4S ]