The visual effects company that recently confirmed its involvement in Skyfall has been sold by parent Kodak to a private equity firm. Endless LLP has picked up Cinesite, one of the big four Soho visual effects houses, which previously worked on Quantum of Solace as well as the Harry Potter movies.
A press release on the company’s website quotes Antony Hunt, the managing director of Cinesite, as saying:
“I feel that we are moving Cinesite into a new era. The partnership with Endless LLP is a great strategic move for both parties and we’re delighted to have their support and investment behind us. We have an extremely innovative and creative team who deliver cutting-edge visual effects for the media and entertainment industry, and we’re now keen to take the Cinesite brand into new territories and expand our digital visual effects services. This takeover sale will give us the opportunity we need to grow our talented team to ensure we remain at the forefront of the visual effects industry for many years.”
The move is the result of massive restructuring at Kodak thanks to the collapse of its core business brought about by digital photography.