Bacnotan to buy HK BPO animation firm
Posted November 20, 2008MANILA, Philippines--Bacnotan Consolidated Industries Inc., a publicly listed holding firm of the PHINMA group, will venture into the business process outsourcing (BPO) sector with an investment of $6.7 million for control of a Hong Kong- incorporated animation services BPO firm.
Bacnotan Consolidated said in a disclosure that its board had approved acquisition of 80 percent of One Animate Ltd., which it said owned 95 percent of Toon City Animations Inc., a corporation organized under Philippine laws.
It described Toon City as a 15-year-old animation studio serving clients like Walt Disney and Universal Studios, among others.
Toon City provides two-dimensional (2D), Flash and 3D CGI (computer-generated image) animation services, it said.
Bacnotan Consolidated president Ramon del Rosario Jr. earlier this year said the company was studying venturing into BPO services, such as architecture, engineering, accounting and animation. Edited by INQUIRER.net
Source: Philippine Daily Inquirer/INQUIRER.net, November 20, 2008
By Elizabeth Sanchez-Lacson
