Monolith Technologies Private Limited, an associate company of Monolith Asia today announced its completion of its acquisition between Monolith and Wide Animation Studio today. In line with Monolith India’s growth strategy, this acquisition will help Monolith’s vision to create a global service hub out of India in immersive and interactive media.
Daniel Isaacsen, Chairman of the company comments: This acquisition will help Monolith to provide extended services in its media post-production division and strengthen the in-house capabilities in multimedia production, virtual reality, augmented reality, and mixed reality solution offerings to our clients across the region.
Monolith initiated the acquisition process in the last quarter of 2020 and after all due diligence the merger process was initiated in 2021 January and completed today. This strategic acquisition of Monolith will now strengthen its position in India.
Monolith targets to set up an offshore service hub in India to cater to the world market in the emerging media technologies. Monolith expects to have an exponential growth out of India due to the favorable market conditions and growing demand for audio visual content from audiences across the region via the OTT platforms and social media platforms.
Monolith with the upgraded strength from Wide Animation Studio is looking to attract clients from prominent movie industries across India including Bollywood, Kollywood, Tollywood, Mollywood, Sandalwood, etc. to provide services in the animation, graphics, visual effects, content localization and more.
Founding members of Wide Animation Studio jointly comments: We are excited about our partnership with Monolith as it provides an opportunity to take our vision made for India and scale it to a global level with the support and mentoring from Monolith.
About The Company:
Monolith India was founded in the year 2008 and has been providing media, technology and communication solution and managed services for multinational clients present in India. Monolith has branches in Mumbai, Bengaluru, Chennai, Hyderabad, Delhi and has associate offices in six countries – Japan, Hong Kong, China, Republic Of Korea, Australia, and Singapore.
Wide Animation Studio was founded by a trio – Dheepan, Dhinesh and Ganesh – in 2014 to provide Pre-Production, Production, Post-Production services for movies, commercial advertisements, corporate videos, virtual and augmented reality services. Their clientele includes companies in media, retail, and logistics business domain. Wide Animation Studio made news earlier in 2014 when they marked an entry in Guiness World Records for largest display of origami boats.