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Animation Studio Nerd Corps Entertainment to be acquired by Canada's DHX Media


DHX Media Ltd which is a producer of children's entertainment programs announced that it has agreed to acquire Nerd Corps Entertainment, a privately held firm for approximately $50 million (C$57 million), in a move to expand its library.

DHX Media which is based in Halifax said that the deal will bring many hours of proprietary children's content to its library, including the hit comedy adventure series "Slugterra," which has been broadcast in over 150 countries and is one of the most popular titles on the Disney XD channel in both the United States and Canada.

Dana Landry, chief executive of DHX Media said that this acquisition not only brings them Nerd Corp's library, but also the talent behind it, strengthening their ability to offer brands targeted at key audiences.

DHX Media is known for brands like Teletubbies, Caillou, Yo Gabba Gabba and many more. DHX Media in Canada owns the most-viewed children's television channel, the Family Channel, as well as the Disney XD and Disney Junior channels.

DHX Media will pay up to C$32.7 million in cash for Nerd Corps, with the remaining paid in the form of equity.

Shares of DHX jumped 4.4 percent on news of the deal and ended up 39 Canadian cents at C$9.35 on the Toronto Stock Exchange. DHX expects the deal to close before the end of the year.

Landry added that the addition will help DHX Media produce more original content for online media, television and mobile as it adds 400 employees from Nerd Corps to its already 300-employee strong workforce in Vancouver.

Landry added the animation capacity that Nerd Corps gives them strengthens their position. This is important in a time where content is extremely hot. All of their current studios are at capacity and they need the additional capacity and skill set.

Asaph Fipke, the co-founder of Nerd Corps and Ken Faier the president of Nerd Corps will also join DHX Media in senior positions.

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