Toon Boom Software has a new owner

New York-based investment firm Integrated Media Company (IMC) has bought Toon Boom Animation from Canadian animation company Nelvana Limited, a subsidiary of Corus Entertainment。

Toon Boom Animation Software Acquired By U.S. Investment Firm For Over $110 Million

Founded in 1994, Montreal-based Toon Boom Animation is the developer of Harmony and Storyboard Pro software, two of the most widely-used professional animation packages for digital 2d production.

IMC paid $147.5 million Canadian ($111.4 million USD) in cash to acquire Toon Boom. The deal is expected to close in calendar 2023.

IMC (Integrated Marketing Communications) is a strategic approach to coordinating and integrating all marketing communication tools, avenues, and sources within a company into a seamless program that maximizes the impact on consumers and other end users at a minimal cost. IMC includes advertising, public relations, direct marketing, social media, sales promotion, and more. IMC aims to create a consistent brand image and message across all channels.

The acquisition is similar to the transfer of ZBrush by Maxon in late 2021, the difference here is that the new owner of Toon Boom does not have any other animation software holdings.

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Yuning Zhang, who led the transaction for IMC, said in a statement: “Toon Boom empowers creators of all types to bring their stories to life through a versatile platform that offers powerful storyboarding, extensive animation capabilities, and tools for streamlining the production process. … Its exceptional tools are trusted by both large and small creative teams, as well as educational institutions shaping the next generation of talent. We are excited to collaborate with the team at Toon Boom to expand their platform into new markets and to introduce ground-breaking products.”