By IANS
Chennai : Entertainment technology provider DQ Entertainment Ltd in association with Percept Picture Company will make three high quality animation films – two mythological movies and a Bollywood film – at a cost of $25 million, the companies said Monday.
The films are slated for 2009-2010 release.
DQE recently won applause for the Indian animation industry with its “Hanuman” (2005) and “Return of Hanuman” (2007).
“The business proposal and co-production understanding between PPC and DQE is aimed at bringing high-quality story-telling and visuals and international success to India,” DQE chairman and CEO Tapaas Chakravarti said in a statement.
“The Indian animation feature market today finds itself at unprecedented values since the whopper hit ‘Hanuman’. The movie not only smashed records in the animation segment, but went on to achieve further heights when it broke DVD sales in 2006 followed by the release of ‘Return of Hanuman’,” Percept Picture joint managing director Shailendra Singh said.
DQE is an award-winning producer of animation and visual effects (VFX) for global television programmes, feature films, DTH videos including online, mobile and next-generation console game art and in-game animation.
It is engaged in production and mostly in co-production with world majors including American Greetings and Marvel Comics for animated as well as animation with Live Action TV Productions, including concept to post-production, with its base in Hyderabad and Manila.
It has recently added production capacities in Chennai, Mumbai and Kolkata to take employee strength to well over 4,000 in the near future.
Established in 2002, Percept Picture is a fast-growing and fully integrated content creation, aggregation and distribution company. It is part of Percept Holdings.