Mar 12, 2024

The iconic VFX House Tippett Studio acquired by Phantom FX in India.

India's leading vfx outlet Phantom Digital Effects Limited, also known as Phantom FX for Phantomfx, has acquired a 40% stake in North American outfit Tippett Studio, which will celebrate its 80th anniversary this year.

According to the release of Phantomfx,

The acquisition will give Phantomfx an operational and monetary aspect of the legendary visual effects production company founded by Oscar-winning filmmaker Phil Tippett.

Phantom says the acquisition will result in significant revenue growth of 2024-25% during the 20-25 financial year. The company said that Tippett Studios will require the addition of 250-300 employees in India, the United States, and Canada, and several upcoming projects with major Hollywood studios

Phil Tippett is responsible for creating some of the most iconic sequences from some of the most iconic films ever, and in 1984 his wife's Together with Jules Romain, he founded Tippet Studio. The studio has a great list of honors, including 11 Academy Awards from 2 nominations, 2 Emmy Awards, 4 Saturn Awards, 4 Clio Awards, BAFTA, Golden Satellite Awards, and the George Marys Award for pioneers in the field of Visual Effects from the Visual Effects Society.

Tippet Studio has vfx work for mega-blockbuster franchises such as Star Wars, Harry Potter, Pirates of the Caribbean and Robocop, as well as standalone movies such as Willow, Starship Troopers and Hollowman. The company operates studios in Berkeley, California and Toronto, Canada.

Under the terms of the agreement, the founder of Tippett Studios will continue to serve on the company's board of directors and use his expertise to develop new intellectual property.

Current Tippett CEO Gary Mundell will continue to join the board, along with Cliff McDowell, who will take on the role of COO in North America.

Phantom Digital Effects, through Mumbai, Chennai, Hyderabad, and its subsidiaries, is a subsidiary of L.A.A.1, is one of the leading vfx studios in India with offices in Vancouver, Montreal and Dubai. Company credits include Marvel's Avengers, Transformers: Dark of the Moon, Snow Society, and RRR.

In a statement, Phantom Chairman and Managing Director Bejoy Arputharaj said

Phil Tippett's Unrivalled Legacy Crafting cinematic wonders like Willow, Jurassic Park and Starship Troopers has always been a profound experience for me. It is a great source of inspiration. This partnership not only represents a major step forward for Phantomfx, but also heralds a new era of innovation and creativity for Tippett Studio. It brings together resources, expertise and passion to deliver groundbreaking projects that revolutionize the vfx industry and captivate audiences around the world.

Tippet CEO Mundell said,

The parent-child relationship with Phantomfx marks a monumental milestone for us. Our dedication to providing top-notch vfx and post-production services remains steadfast and this collaboration paves a thrilling path for innovation and expansion.