Sun Innovation Acquires Digital Domain 3.0

There’s a new wrinkle in the continuing saga of Digital Domain (Oblivion, Iron Man 3): The Oscar-winning and formerly bankrupt 3.0 version of the VFX studio has become a part of Hong Kong-based Sun Innovation, which acquired the parent company of Galloping Horse U.S. (which owned a 70% stake in DD) for $50.5 million for equity shares.

Reliance MediaWorks continues to own a minority stake (30%) in Digital Domain 3.0, while Galloping Horse-Reliance, LLC also remains in the ownership chain of Digital Domain 3.0.

Meanwhile, Variety reports that recently appointed CEO Ed Ulbrich (who has been with DD since its formation) has been replaced by Sun’s Daniel Seah, but will act as creative consultant. In a public statement, Ulbrich said he is looking forward to returning to the creative side, which is a much better fit for him.

DD is not only handling VFX on the upcoming Ender’s Game (Nov. 1) but is also producing with Lionsgate/Summit. Other DD projects include X-Men: Days of Future PastMaleficient, and Black Sky (ironically awarded to DD by Warner Bros. during Rhythm & Hues’ bankruptcy ordeal).

“We believe absolutely that Digital Domain 3.0 can bring the expertise it has developed over the past two decades to audiences worldwide who are hungry for big visual effects movies and new digital experiences to go along with them,” said Jian Zhou, chairman of Sun Innovation. “Digital Domain 3.0 has the leadership, talent, infrastructure, and resources to bring teams together and manage complex digital productions around the world. The company is an ideal fit for Sun Innovation as we launch into this space.”

Posted on by Bill Desowitz in 3-D, Animation, performance capture, previs, Tech, VFX, Virtual Production

Add a Comment