Stockholm, Sweden July 16, 2024 Dream Machine FX, a global collective of visual effects houses, has acquired the renowned VFX studio Important Looking Pirates (ILP), known for its work on blockbuster series such as Stranger Things, Shogun, and Fallout. This strategic acquisition, facilitated by Arenova Capital, marks Dream Machines fourth VFX acquisition and its entry into the European market, expanding its footprint across three continents and six countries.Founded in 2007 in Stockholm by Niklas Jacobson and Yafei Wu, ILP has become a leading VFX studio with a reputation for creating realistic water simulations, complex creatures, and lifelike environments. ILPs impressive portfolio includes contributions to Westworld, The Last of Us, and several Star Wars titles. The studio will join Dream Machines roster, which includes FIN Design + Effects, Mavericks VFX, and ZERO VFX.Industry Context:From 2020 to 2023, the animation and VFX industry experienced a surge in mergers and acquisitions, with nearly 50 deals, including notable purchases by Cinesite and Sony. However, recent industry contractions and a balancing of supply and demand have slowed the pace of these deals. Amidst this landscape, David Li, managing partner of Arenova Capital and chairman of Dream Machine, sees opportunity in the devaluation of VFX houses and the potential for scaling operations.Our M&A strategy has been different were curating the best and brightest VFX houses that share our values and offer great value propositions to our clients through different price points, rebate levels, specialties, geographies, and capabilities, Li stated. He emphasized the revival of major franchises like Harry Potter and Lord of the Rings, which will heavily rely on VFX.Leadership and Structure:ILP will retain its creative autonomy under the deal. Co-founders Niklas Jacobson and Yafei Wu will become shareholders in Dream Machine, with Jacobson joining the companys board and Wu serving as a senior advisor. Eva Mautino, ILPs CEO, will continue in her role and also become a managing partner of the group.In 2023, ILP experienced significant growth, with a 15% increase and its best year ever, according to co-founder Niklas Jacobson. The financial terms of the deal were not disclosed.Weve long held that we would only enter into a strategic combination if we found a partner who shared our values and our commitment to talent and artistry we strongly believe that we have found that partner in Dream Machine, said Jacobson and Wu in a joint statement. The partnership with Dream Machine FX amplifies our strengths while allowing us to keep our creative independence, added Mautino. Our common vision for the future creates a fantastic opportunity to invest further in our team and expand our capabilities.Dream Machine is set to announce another acquisition in the coming months, continuing its growth strategy in the VFX industry.For more information, visit Important Looking Pirates and Dream Machine FX.The post Dream Machine Acquires Award-Winning VFX Studio Important Looking Pirates appeared first on vfxexpress .The post Dream Machine Acquires Award-Winning VFX Studio Important Looking Pirates appeared first on vfxexpress .