PhantomFX Acquires Oscar-Winning Tippett Studio: A VFX Powerhouse Merger
Mumbai 11th March 2024 – Phantom Digital Effects Limited (NSE: PHANTOMFX), a creative visual effects (VFX) studio, has finalized an agreement to acquire a majority stake of 80% in Tippett Studio This the acquisition will give PhantomFX control over the operations and monetary aspects of the legendary visual effects production company founded by Oscar-winning filmmaker Phil Tippett. This strategic move is a significant milestone for both companies and the broader VFX industry. Tippett Studio, renowned for its groundbreaking work on blockbuster hits like JURASSIC PARK and STAR WARS, will continue its operations under the Tippett name, maintaining its commitment to delivering toptier VFX and post-production services to clients worldwide. The collaboration also entails PhantomFX’s commitment to retaining Phil Tippett’s involvement, leveraging his expertise to develop compelling intellectual property (IP) alongside the Tippett team and also underscores Phantom FX’s dedication to fostering creativity, innovation, and growth within the VFX landscape. Gary Mundell, CEO of Tippett North America, will maintain his position and join the board, along with Cliff McDowell, who assumes the role of COO for North America. Phil Tippett himself will remain actively engaged, serving on the board and contributing creatively to the studio’s projects. Tippett Canada will remain integral to the company’s operations, continuing to deliver exceptional visual effects and storytelling services. The recent launch of Tippett Productions, a Canadian-based venture focusing on original content creation, underscores the studio’s commitment to nurturing new talent and bringing captivating stories to life. The acquisition of Tippett by PHANTOMFX is expected to result in a significant increase in revenue growth of 20-25% during the 2024-2025 financial year. Tippett has several upcoming projects with leading Hollywood production houses and studios. This acquisition may lead to the addition of 250 to 300 employees in India, the United States, and Canada for PhantomFX, which will further enhance its global footprint and capabilities.
Bejoy Arputharaj, Chairman and Managing Director of Phantom FX, expressed his excitement, stating,
“I’m beyond excited to announce the acquisition of Tippett Studio and collaboration with Phil Tippett. Phil
Tippett’s unparalleled legacy in crafting cinematic marvels like Willow, Jurassic Park, and Starship Troopers
has always been a profound source of inspiration for me.
This partnership not only signifies a significant stride forward for PhantomFX but also heralds a new era of
innovation and creativity for Tippett Studio. With our combined resources, expertise, and passion, we’re
poised to revolutionize the VFX industry, delivering groundbreaking projects that will captivate audiences
worldwide.
With Tippett Studio’s strong pipeline of orders, we are excited to push the boundaries of what is achievable,
redefine industry standards, and create enduring works of art. Our joint efforts will pave the way for new
possibilities and limitless potential for greatness. We are thrilled about the extraordinary opportunities
that lie ahead and can’t wait to create works of art that will stand the test of time”
Gary Mundell, CEO of Tippett North America, expressed enthusiasm, stating, “Our partnership with
PhantomFX marks a monumental milestone for us. Our dedication to delivering top-tier VFX and postproduction services remains steadfast, and this collaboration opens up thrilling avenues for
innovation and expansion.
We’ll showcase PhantomFX’s innovative and artistic prowess on a global scale within the
entertainment industry. By uniting our strengths, we’re embracing the transformative potential of
collaboration, proving that diverse studios can redefine the entertainment landscape. The acquisition
is driven by their strategic objective to establish a robust presence in the fiercely competitive U.S. and
Hollywood markets.
While Indian VFX studios like PhantomFX contribute significantly to major streaming platforms such
as Marvel and Netflix, there persists a perception that India primarily offers technical support rather
than creative input. By partnering with Tippett, PhantomFX aims to challenge this perception and
showcase its innovative and artistic capabilities on the global stage”
With the acquisition facilitating the integration of their expertise and resources, both entities are poised to redefine industry standards and captivate audiences worldwide. Moreover, this partnership not only reinforces its foothold in key markets such as the U.S. and Hollywood but also signifies a strategic move towards global expansion. By leveraging their combined strengths and embracing the diverse talents of their teams, PhantomFX and Tippett Studio are well-positioned to shape the future of visual storytelling on a global scale, inspiring audiences and pushing the boundaries of imagination.
About Phantom Digital Effects Limited
Phantom Digital Effects Limited (NSE: PHANTOMFX) is one of the leading creative visual effects (VFX) studio specializing in Film, Web series, and Commercial projects. The company, headquartered in India with additional offices in the United States and Canada, holds the esteemed Certified Trusted Partner Network (TPN) designation, underscoring its commitment to industry standards and security. PhantomFX, strategically located in Mumbai, Chennai, and Hyderabad, extends its global presence through subsidiaries in the UK and administrative offices in Los Angeles, Vancouver, Montreal, and Dubai. Offering end-to-end services to global production houses, including final compositing, 3D element creation, animation, and more, the company, co-founded by a team of creative-driven professionals, has earned a solid reputation for managing complex and scalable VFX production tasks. With an impressive clientele and industry trust, PhantomFX solidified its position as one of India’s most reliable visual effects providers, achieving a notable listing on the NSE Emerge platform in October 2022. For FY23, the Company has reported Total Income of ₹ 58.73 Crore, EBITDA of ₹ 23.48 Crore & Net Profit of ₹ 16.20 Crore.
About Tippett Studio
Tippett Studio stands as a renowned animation and visual effects powerhouse under the leadership of the esteemed Phil Tippett, a recipient of two Oscars and multiple Emmy awards. Nestled in Berkeley, California, the studio boasts a team of dedicated designers, supervisors, animators, and producers committed to delivering top-tier visual effects solutions at competitive rates. With a diverse portfolio ranging from classic stop-motion animation to cutting-edge computer graphics, Tippett Studio caters to clients worldwide, earning a stellar reputation for excellence and client satisfaction
The Company’s impressive roster of recent projects includes high-profile ventures like “THE BOOK OF BOBA FETT,” “THE MANDALORIAN Season 2,” and “LOCKE AND KEY Season 2,” demonstrating their versatility across various platforms including Disney Plus, Netflix, and Prime Video. Additionally, their involvement in blockbuster hits like “FALCON AND THE WINTER SOLDIER” and “I KNOW WHAT YOU DID LAST SUMMER” showcases their ability to tackle diverse genres and mediums. Tippet Studio expanded with the launch of Tippett Canada, a fully operational post-production facility catering to heavyweight clients such as Marvel Studios, Lucasfilm, Disney, and more. This expansion underscores their commitment to providing unparalleled visual effects services to a global clientele. Phil Tippett’s legacy as a visionary in the realm of cinema is highlighted through his creation of iconic characters like Jabba the Hutt, the Tauntauns, and the Rancor Monster in the Star Wars franchise, as well as contributions to groundbreaking films like “JURASSIC PARK” and “ROBOCOP,” solidifying Tippett Studio’s status as a trailblazer in the industry
