In a bid to broaden its gaming industry, the Japanese multinational video game company, Nintendo has revealed today that it is about to acquire a 100% of the outstanding shares of Dynamo Pictures for total capital of 34.5 million yen.
Dynamo Pictures is a Japanese computer-generated imagery production company that creates CG for films, television, video games, CM (Japanese commercials), pachinko (the Japanese equivalent of a slot machine), and events, as well as providing motion capture services. Studio Dynamo, which was founded in 2004, was spun off into a separate company in 2011.
According to the Japanese gaming giant, the acquisition was made to strengthen the planning and production structure of visual content in the Nintendo group by the wholly owned subsidiary. Once Nintendo acquired Dynamo Pictures, the company will be responsible for planning and producing visual content for the firm.
The acquisition is expected to close on October 3, 2022, subject to all relevant terms and customary closing conditions being met. Following the completion of the acquisition, Dynamo Pictures’ name is expected to be changed to “Nintendo Pictures Co., Ltd.” to focus on the development of visual content utilizing Nintendo IP.
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The agreement to acquire 100% outstanding shares of Dynamo Pictures is currently negotiating for total capital of 34.5 million yen with the representatives of the two parties. In addition, Nintendo pointed out that once the deal is finalized the acquisition is expected to have only a slight effect on Nintendo’s results for this current fiscal year.
Over the years, Nintendo has made itself notable in the video game industry among its competitors. The firm has created video games and game consoles. Fusajiro Yamauchi, a craftsman, founded Nintendo in 1889 as Nintendo Karuta and initially produced handmade hanafuda playing cards. Stay connected with TechGenyz as we bring you the latest updates in the Tech world.