The Squirrel Media Group purchases the 74.24% of Mondo TV Studios

Squirrel Media has announced that it has reached an agreement with Mondo TV S.p.A, one of the largest European producers and distributors of animated content, through a binding letter of intent for the integration into Squirrel Media of Mondo TV Studios, after the purchase of its 74.24%.

Squirrel Media is a communication technology group chaired by Pablo Pereiro Lage. The company works globally across four main business areas: advertising, communication media, content (creation and distribution of all types of audiovisual content), and technology (TMT services).

Under the terms of the agreement, Mondo TV Studios would become part of a leading Spanish group in technology within the media sector. The company would join Squirrel Media's content business segment, creating a new animation vertical to produce and distribute new IPs, and at the same time offer animation services as a recurring activity engine, along with the distribution of animated content. It would also develop and build on synergies with the other business units that make up the Squirrel Media Group.

Although Mondo TV Studios would join Squirrel Media, it will retain its brand identity and entire organizational structure, thus maintaining the management team led by CEO Maria Bonaria Fois along with the operational team.

"The acquisition of Mondo TV Studios, with its animation studio and its catalogue, is deeply valuable for our growth strategy, since it will mean adding to the group one of the largest European producers and distributors of animation content. In addition, it will consolidate our leadership in the creation and distribution of content in Spanish, Portuguese and Italian,"  said Pablo Pereiro Lage, President of Squirrel Media.

Maria Bonaria Fois, CEO of Mondo TV Studios, added: "The integration of Mondo TV Studios into a group with exponential growth projections such as Squirrel Media is an undoubted high point for our strategic growth plans. We are grateful to Mondo TV Group for supporting us throughout all these years and helping us to reach this stage in our development. We are proud of our achievements and looking forward to a very bright future. We will continue to work hard on our traditional business lines, exploring synergies with the other Squirrel Media companies, as well as offering our much-admired international animation services and continuing to develop IPs that add value.”