Sony pays $195m for Octonauts prodco

Octonauts: part of SPT deal

Sony Pictures Television (SPT) has acquired London- and New York-based children’s animation firm Silvergate Media, strengthening its position in the kids genre.

SPT has bought the firm from its management team – CEO Waheed Alli and chairman William Astor – and LA-based investment firm Shamrock Capital which had previously invested. Silvergate will continue to be managed by Alli and Astor in their existing roles.

The deal is for 100% of Silvergate Topco Limited, whose assets include Silvergate’s 49% interest in a joint venture with Beijing-based Wanda Group, which holds the rights to Octonauts.

Additionally, SPT has acquired a minority stake in Silvergate BP Bidco, which produces the Peter Rabbit television series and will continue to be majority-owned by Waheed Alli.

The total purchase price was approximately US$195m.

This acquisition follows the announcement that Sony Pictures Animation will be expanding to include animated television series.

Mike Hopkins, SPT chairman, said: “We are excited to extend our capabilities and gain valuable children’s IP to bolster our entry into the kids’ space. Silvergate gives us a great building block to expand into this genre in a meaningful way.”

Waheed Alli said, “We are all excited about joining SPT and the creative teams within the SPT family. 2020 will see a new and strong development slate coming to market with some exciting new series in the pipeline.”

Silvergate was founded in October 2011 through the purchase of rights to two preschool properties. Over the past several years, the company has expanded its children’s IP. Silvergate also has a growing presence in China, collaborating with Chinese conglomerates and monetising IP with its partners.

“This is the beginning of an exciting new chapter for the team at Silvergate,” said Will Wynperle, Partner at Shamrock. “Over the past several years, the company has significantly grown its portfolio of brands, many of which can be seen on a global basis. We have enjoyed working with the Silvergate team over the past several years and they are excited about their new partnership with SPT.”