GROM Holdings Inc., the privately held parent company of Grom Social Inc., has acquired 100 percent of award-winning, Philippines-based Top Draw Animation (TDA).
The acquisition of a major international animation producer is the latest step as part of an aggressive growth strategy for Grom Social, the safe social network created “by kids for kids,” Boca Raton, Florida-based company said on August 3.
TDA, a homegrown producer of top-quality animation with 500 employees, is one of the leading producers of 2D animation for television markets around the world. TDA is recognized by producers and broadcasters as a provider of quality television animation and currently provides services to many high-profile properties, including My Little Pony, Tom and Jerry and Peabody and Sherman.
“We are fortunate to partner with an international company of TDA’s caliber, and we are excited about the production expertise they bring to Grom Social,” Sander Schwartz, Grom Social president, was quoted in a statement as saying. “After an extensive search, we identified TDA as ‘best in class’ for their international reputation for top-quality animation, excellent management team and long track record of consistent and strong profitability. This acquisition brings Grom Social one step closer to becoming the preeminent online and digital destination for kids.”
This transaction enables both companies to benefit from the growing market for children-focused content in the US and internationally, Grom said.
Wayne Dearing, the CEO, founder and managing director of TDA, will continue to operate TDA and oversee its production of animated content, according to the company. Dearing will also take on the role of executive vice president for global finance of Grom Social.
TDA began operations in 1999 and specializes in 2D digital production methodologies. Top Draw Animation Hong Kong Ltd. represents the group in all business aspects and in turn subcontracts the production work on an exclusive basis to Top Draw Animation Inc. in Manila. TDA, which operates in 2,175 square meters of the PSEC Centre, Ortigas Center, Pasig, outputs more than 100 hours of television annually.