Trivandrum based Toonz Animation India and California based First Serve Entertainment have announced the formation of a joint venture First Serve Toonz (FST) that will produce and distribute animation programming for the international marketplace as well as operate a consumer products licensing business.
FST will announce its first major project in the next few weeks.
Speaking to Animation ‘xpress, P. Jayakumar, CEO, Toonz Animation India said: “While First Serve International brings global experience and perspective to the joint venture, Toonz will deliver cutting-edge creativity and high production values. FST will leverage on the strengths of the two partners to become a significant player in the business.”
Tennis legend turned entertainment entrepreneur Vijay Amritraj, chairman of First Serve International, said: “My company is excited to team up with Toonz at this time as India and its animation industry accelerate to new highs. Our joint venture is strategically positioned to take advantage of a tremendous growth in animation and consumer products business in our region and around the world.”
The new venture shall produce high end IPs which shall be cofinanced by Toonz and First Serve. The animation production shall be done at Toonz’ Trivandrum facility while the distribution would be handled globally by First Serve.
Ed Borgerding, who has spent 20 years with The Walt Disney Company, most recently as Executive Vice President, will be the CEO of First Serve Toonz. Borgerding commented “FST will be working with major Hollywood brands and content companies to develop, finance, produce and distribute top quality productions.”