Animax Designs acquired by Cityneon Holdings

Animax Designs, a specialist in the creation of animatronics and interactive characters, has announced that it has been acquired by Cityneon Holdings.

Animax Designs has announced that it has been acquired by Cityneon Holdings, an existing client. Animax currently builds the dinosaurs in Cityneon’s Jurassic World: The Exhibition touring sets. This agreement will build depth within the Cityneon Group, which provides world-class experiences across the globe.

Chuck Fawcett will continue to serve as President & CEO of Animax, which recently celebrated 30 years in the industry.

Unlocking value for shareholders

“I am extremely proud of all that we have accomplished at Animax over the last 30 years,” says Fawcett. “I firmly believe that this combination with Cityneon will unlock even more value for shareholders as Cityneon continues to set the pace in what is an exciting and dynamic industry.

“This transaction will also substantially expand our international reach, allowing us to offer our world-class products to more strategic markets around the world.”

Animax

“This is a strategic acquisition for Cityneon, and it is exciting that it is happening at a time when the Company is growing from a position of strength to becoming an industry leader in the creation of new and innovative visitor experiences around the world,” adds Ron Tan, Executive Chairman and Group CEO of the Group.

“This acquisition also brings along further diversification of the management and executive teams within Cityneon, which is varied across different cultures and nationalities. We will continue on this path to build, strengthen and add depth to a world-class leadership team for the Cityneon Group.”

The transaction was based on a combination of cash and shares in Cityneon. Animax is expected to contribute immediately to the revenue and profits of the Group.

At the end of 2019, Animax Designs unveiled a new industry-leading technical design team, led by Chris Lee, Director of Technical Design.