Jul 15, 2016

Grom acquires Top Draw Animation, an animation production company for "My Little Pony"

Grom Social, a “safe social network created by kids for kids,” announced this week that it has acquired 100% of Manila, Philippines animation studio Top Draw Animation (TDA). The purchase was made by Grom's parent company, the privately-held Grom Holdings. Financial terms of the deal were not disclosed.

Top Draw Animation provides animation services for numerous TV series including Hasbro's My Little Pony: Friendship is Magic and Transformers: Rescue Bots, Dreamworks' The Mr. Peabody & Sherman Show, Warner Bros.' The Tom and Jerry Show, and Cartoon Network Asia's Exchange Student Zero. Founded by Wayne Dearing in 1999, the company produces more than 200 half-hours of 2D digital animation annually.

Grom Social, which claims to have more than 3 million registered members, was founded in 2012 by then 12-year-old Floridian Zach Marks. The company's president is Sander Schwartz, a kids' entertainment veteran who was the president of Warner Bros. Animation in the early-to-mid-2000s, and prior to that was the president of Sony Pictures Family Entertainment Group. More recently, he was president of kids and family entertainment at FremantleMedia.

“After an extensive search, we identified TDA as 'best in class' for their international reputation for top quality animation, excellent management team and long track record of consistent and strong profitability,” said Sander Schwartz in a statement. “This acquisition brings Grom Social one step closer to becoming the preeminent online and digital destination for kids.”

TDA will continue providing animation services to third-party clients, while producing animation for Grom's website and mobile apps.

TDA founder Wayne Dearing will continue to operate the studio, and he will additionally take on the role of executive vice president of global finance for Grom Social. Dearing is an industry veteran who joined Hanna-Barbera Australia as their finance controller in 1978. He was also the general manager of Hanna Barbera's operations in the Philippines in the 1990s, and later worked at Philippine Animation Studios before launching his own company.

“The opportunity to join Grom Social and become a part of its growth was a compelling one,” said Dearing. “Transforming our company into a major player in digital media has been the focal point of our strategy to grow our business. By joining forces with Grom Social, we will achieve that goal and set the stage for strong growth within both the traditional television animation sector and new animated content for digital media.”