Silicon Valley Bank (SVB) has provided a senior debt facility for the merger of The Foundry, the London-based visual effects software company backed by Carlyle, with US-based software specialist Luxology.
The Foundry was set up in 1996 and is now one of the leading innovators of visual effects and image processing technologies, serving leading visual effects facilities including Warner Bros, Weta Digital, Sony Pictures Imageworks and The Moving Picture Company.
Its products have facilitated ambitious effects sequences on a host of Hollywood blockbusters including the Harry Potter franchise, Avatar and Hugo, as well as television series Boardwalk Empire.
Luxology’s 3D software – modo – is used by thousands of artists and designers, and is favoured for its fresh approach to modelling, animation and rendering tools.
The combined business will offer a wide-reaching set of 2D and 3D software products for digital production in both the entertainment and design industries.
Carlyle, which also owns digital visual effects company The Mill, agreed to buy a majority stake in The Foundry in March last year from Advent Venture Partners and other shareholders.
Although financial terms of the deal were not disclosed, reports said Foundry is worth over £75m.
SVB opened a full service commercial banking branch in the UK earlier this year, making it the first US lender to open a commercial branch in London for several years.
The firm is the commercial banking division of Nasdaq-listed SVB Financial Group.
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