The corporate will purchase compulsorily convertible debentures in PhantomFX in a number of tranches by way of a preferential allotment, topic to shareholder approvals.
The funding is geared toward enhancing Zee’s content material creation capabilities throughout platforms and genres, whereas leveraging PhantomFX’s international experience, proprietary workflows and AI-integrated manufacturing capabilities.
The partnership will allow Zee to construct high-impact content material throughout OTT originals, children animation, gaming and interactive codecs, in addition to mythology and fantasy genres. Each corporations may also collectively develop unique mental properties for OTT, gaming and licensing.
“At ‘Z’, now we have at all times stayed forward of the curve by enhancing our capabilities and leveraging strengths to interact purposefully with customers throughout the globe. The strategic funding in PhantomFX marks a agency step ahead in our ambition to construct scale and improve innovation depth. PhantomFX’s international experience in high-end animation and VFX completely enhances our aspiration to create immersive and extra partaking content material IPs that journey throughout geographies and codecs. We’ll proceed to construct future-ready capabilities that broaden our artistic canvas and technological prowess to steer the following section of progress within the leisure ecosystem,” mentioned Punit Goenka, Chief Govt Officer, Zee Leisure Enterprises.
“The funding in PhantomFX permits us to unlock vital operational worth. PhantomFX’s confirmed capabilities in animation and post-production, coupled with our legacy in storytelling and distribution power, will empower ‘Z’ with a gentle, artistic financial institution of content material and strong skills to boost visible excellence throughout screens,” mentioned Mukund Galgali, Deputy Chief Govt Officer and Chief Monetary Officer, Zee Leisure Enterprises.
PhantomFX, which has a presence in markets together with the US and UK, will proceed to function independently whereas having access to a gentle pipeline of tasks from Zee.“We’re delighted to collaborate with a number one content material powerhouse like ‘Z’. I’m extremely excited for this long-term strategic funding, designed to protect our operational independence whereas additionally collectively enhancing our capabilities – backed by world-class animation and VFX and AI, technology-powered workflows, sharp execution and international craftsmanship. Our strong portfolio of studios will assist ‘Z’ ship artistic scale and robust IP property throughout animation, gaming, mythology, fantasy and immersive codecs. With this funding, we goal to speed up our ambition to develop PMG’s footprint within the international content material worth chain,” mentioned Bejoy Arputharaj, Founder and CEO, Phantom Digital Results.
The partnership is non-exclusive and can permit PhantomFX to proceed servicing its international shopper base, together with studios, broadcasters and streaming platforms, whereas increasing its capabilities and market attain.
