Cityneon buys US animated figures design firm in S$50m deal

CITYNEON Holdings, which delisted from the Singapore Exchange (SGX) last February, has acquired US-based animated figures design firm Animax Designs in a deal worth about S$50 million, The Business Times understands.

The experience entertainment company stumped up cash and new shares to buy Animax Designs.

Animax Designs, which is based in Tennessee in the US, counts The Walt Disney Company, Nickelodeon and NBC Universal among its clients. It also builds the the dinosaurs in Cityneon's Jurassic World: The Exhibition touring sets. The company employs 150 people.