PARIS, Dec 20 (Reuters) - France’s Thomson SA TMS.PA said on Thursday its Technicolor Services division had sealed a strategic alliance with DreamWorks Animation DWA.N to develop in the fast-growing Indian entertainment industry.
The alliance leverages Thomson’s recent investment in Paprikaas Animation Studios, an animation and game content provider in Bangalore, the statement said.
In February, Technicolor Content Services bought a controlling stake in Paprikaas, as part of Thomson’s strategy to locate more of its business, notably film post-production and DVD manufacturing, in India to cut costs and to serve local clients.
According to India’s National Association of Software and Service Companies, the global animation development market is expected to grow 9 percent yearly through 2009, to become a $26 billion industry. NASSCOM also projects that in India, animation development will grow 34 percent yearly through 2009 to become a $950 million market. (Reporting by Dominique Vidalon, editing by Will Waterman)