06 October 2009
GCC-based buyout firm GrowthGate Capital Corporation is to acquire 30 per cent of Rubicon, one of the leading digital content production and animation companies in Mena.
Rubicon is a pioneer in k-12 education content, currently used in many countries across the region such as Jordan, Oman, Algeria and Morocco. The company has the largest 2D and 3D animation studio in the Middle East, and is executing location-based entertainment projects in two destinations having more than a billion dollars development budgets. Rubicon is also involved in the licensing and merchandising business of its own IP in addition to the IP of major studios and independent parties in the US.
Randa Ayoubi, founder and CEO of Rubicon, said: "We are very excited to partner with GrowthGate whom we found to be an investor with vision and foresight, not just a financial investor. GrowthGate, with its forward-thinking mandate, professional management and results-driven ethos, seems to be a nurturing ground for regional champions, something that is still largely lacking in the Middle East."
"The animation landscape in the Middle East, as well as edutainment, did not take centre stage during the boom times of 2005-2007. Other sectors overshadowed the opportunities that lay ahead in this growing segment that addresses hundreds of thousands of students and millions of young viewers.
"The industry remains fairly untapped and the estimated pent-up demand for animation in the region remains significant."
GrowthGate - managed by Keystone - follows a 'buy-and-build' investment strategy that is set on partnering with the management of growth-orientated businesses and, together, steering their courses to becoming enduring, large-scale organisations. This deal marks the fifth direct equity investment by GrowthGate since its capitalisation in mid-2007, and the first in the edutainment and animation sector.
GrowthGate's portfolio companies comprise Able Logistics Group (logistics and transport), Gama Aviation Holding (managed-private jets and aviation services), Roots Group (construction-related materials), and Averda International (environmental and waste management services).
GCC-based buyout firm GrowthGate Capital Corporation is to acquire 30 per cent of Rubicon, one of the leading digital content production and animation companies in Mena.
Rubicon is a pioneer in k-12 education content, currently used in many countries across the region such as Jordan, Oman, Algeria and Morocco. The company has the largest 2D and 3D animation studio in the Middle East, and is executing location-based entertainment projects in two destinations having more than a billion dollars development budgets. Rubicon is also involved in the licensing and merchandising business of its own IP in addition to the IP of major studios and independent parties in the US.
Randa Ayoubi, founder and CEO of Rubicon, said: "We are very excited to partner with GrowthGate whom we found to be an investor with vision and foresight, not just a financial investor. GrowthGate, with its forward-thinking mandate, professional management and results-driven ethos, seems to be a nurturing ground for regional champions, something that is still largely lacking in the Middle East."
"The animation landscape in the Middle East, as well as edutainment, did not take centre stage during the boom times of 2005-2007. Other sectors overshadowed the opportunities that lay ahead in this growing segment that addresses hundreds of thousands of students and millions of young viewers.
"The industry remains fairly untapped and the estimated pent-up demand for animation in the region remains significant."
GrowthGate - managed by Keystone - follows a 'buy-and-build' investment strategy that is set on partnering with the management of growth-orientated businesses and, together, steering their courses to becoming enduring, large-scale organisations. This deal marks the fifth direct equity investment by GrowthGate since its capitalisation in mid-2007, and the first in the edutainment and animation sector.
GrowthGate's portfolio companies comprise Able Logistics Group (logistics and transport), Gama Aviation Holding (managed-private jets and aviation services), Roots Group (construction-related materials), and Averda International (environmental and waste management services).
By Staff Writer
© Emirates Business 24/7 2009
