Iconic VFX House Tippett Studio Acquired By India’s Phantom FX
Leading Indian vfx outlet Phantom Digital Effects Limited, also known as Phantom FX of Phantomfx, has acquired an 80% majority stake in the two-time Oscar-winning North American outfit Tippett Studio, which is celebrating its 40th anniversary this year.
According to a Phantomfx release:
This acquisition will give Phantomfx control over the operations and monetary aspects of the legendary visual effects production company founded by Oscar-winning filmmaker Phil Tippett.
Phantom says the acquisition is expected to result in a significant revenue growth of 20-25% during the 2024-25 financial year. The company says Tippett Studio has several upcoming projects with major Hollywood studios that will require the addition of 250-300 employees in India, the U.S., and Canada.
Phil Tippett is responsible for creating some of the most iconic sequences from some of the most iconic movies of all time and in 1984 founded Tippett Studio with his wife Jules Roman. The studio has an incredible list of honorifics, including two Academy Awards from 11 nominations, two Emmies, four Saturn Awards, four Clio Awards, a BAFTA, a Golden Satellite Award, and the George Melies Award for pioneering in the realm of visual effects from the Visual Effects Society.
Tippet Studio has done vfx work for mega-blockbuster franchises, including Star Wars, Harry Potter, Pirates of the Caribbean, and RobocCop, as well as stand-alone films such as Willow, Starship Troopers, and Hollow Man. The company operates studios in Berkeley, California, and Toronto, Canada.
Under the terms of the deal, the Tippett Studio founder will serve on the company’s board and continue to leverage his expertise to develop new intellectual property.
Current Tippett CEO Gary Mundell will stay on and join the board, along with Cliff McDowell, who will assume the role of COO for North America.
Phantom Digital Effects is one of India’s premier vfx studios with offices in Mumbai, Chennai, Hyderabad, and, through its subsidiaries, L.A., Vancouver, Montreal, and Dubai. Company credits include Marvel’s Avengers, Transformers: Dark of the Moon, Society of the Snow, and RRR.
In a statement, Phantom chairman and managing director Bejoy Arputharaj said:
Phil Tippett’s unparalleled legacy in crafting cinematic marvels like Willow, Jurassic Park, and Starship Troopers has always been a profound source of inspiration for me. This partnership not only signifies a significant stride forward for Phantomfx but also heralds a new era of innovation and creativity for Tippett Studio. With our combined resources, expertise, and passion, we’re poised to revolutionize the vfx industry, delivering groundbreaking projects that will captivate audiences worldwide.
Tippet CEO Mundell added:
Our parentship with Phantomfx marks a monumental milestone for us. Our dedication to delivering top-tier vfx and post-production services remains steadfast, and this collaboration opens up thrilling avenues for innovation and expansion.