Oscar Award-winning visual effects artist Phil Tippett’s (Jurassic Park, Star Wars, Starship Troopers, Mad God) Tippet Studio has engaged in an agreement to sell the majority of stakes to Indian visual effects powerhouse PhantomFX, it was announced today.
We’ve been told, “The company will continue to operate business-as-usual and will continue to provide high-level VFX and post-production services to the major studios, networks, and independents in Hollywood. The transaction represents a strategic move for both partners and will be instrumental in furthering innovation, fostering creativity, and driving growth for the VFX industry. Offices will continue to be based in the U.S., Canada, India, Dubai and the UK.”
Here’s the full press release for all the info you need…
“PhantomFX recognizes the value and prestige of the Tippett name and plans to retain the moniker as they expand into the western VFX market. A key aspect of the partnership will be PhantomFX collaborating with the legendary Phil Tippett and the Tippett team to develop stand-alone intellectual property (IP). The collaboration aligns with PhantomFX’s vision of fostering creativity and contributing to the storytelling process, further elevating their status within the industry. Gary Mundell will stay on in his current role with a seat on the board alongside Cliff McDowell who has now moved into the COO position for North America. Phil Tippett will continue his involvement with Tippett Studio, having a seat on the board and continuing his creative work in studio.“Additionally, Tippett Canada will continue to play a vital role for the company by providing exceptional visual effects and storytelling services from north of the border. Tippett Studio and Ultra 8 Pictures also announced the launch of Tippett Productions last year, a Canadian-based venture to produce original content. The shingle will continue to create and shepherd new, original film and TV projects from a roster of animation and VFX artists, including several exciting IPs from the master, Phil Tippett himself.” “The acquisition of Tippett by PhantomFX is driven by their strategic goal of establishing a strong presence in the highly competitive U.S. and Hollywood markets. Although Indian VFX studios, like PhantomFX, contribute significantly to major streaming giants like Marvel and Netflix there remains a perception that India primarily offers technical support rather than creative input. By partnering with Tippett, PhantomFX aims to challenge this stigma and demonstrate the innovative and artistic capabilities of PhantomFX in the global entertainment industry,” said Tippett’s Gary Mundell. “I am honored to collaborate with Phil Tippett, a legendary figure whose incredible contributions to iconic works such as Willow, Jurassic Park, Starship Troopers, Twilight Trilogy, and numerous other masterpieces have long been a source of inspiration for me. I am immensely proud to align with such an innovative figure. This partnership will not only propel PhantomFX and its business endeavors forward, but it will also greatly benefit Tippett and its team. We are poised to bring substantial value to Tippett with PhantomFX’s extensive resources, unmatched capabilities, and sheer power. Our investors will also stand to reap substantial rewards from this partnership, as it will bring forth a wave of high-quality, high-budget, and ultimately more profitable ventures. We are confident that together, our partnership will open doors to many astonishing ventures, leveraging our collective expertise and pushing the boundaries of creativity. PhantomFX and Tippett Studios will redefine the standards of excellence in our industry and create works of art that will stand the test of time. The possibilities are endless, and I am genuinely excited about the journey ahead,” said PhantomFX’s Bejoy Arputharaj. PhantomFX is a renowned full-service visual effects company based in India, which has won several awards for its impressive work. The company has over 650 employees and is publicly traded on the National Stock Exchange (NSE – EMERGE). They have provided VFX work for many popular movie titles, such as THE AVENGERS, JOKER, FLASH, THE WALKING DEAD FRANCHISE, and OUTLANDER. The company’s Chairman and Managing Director is Bejoy Arputharaj. PhantomFX is currently working on several exciting titles. Tippett Studio projects include THE BOOK OF BOBA FETT and THE MANDALORIAN on Disney Plus, LOCKE AND KEY on Netflix, and Marvel Studio’s FALCON AND THE WINTER SOLDIER. Tippett’s animated feature film MAD GOD premiered in 2022 at the Locarno Film Festival and played 20+ festivals and won six awards. It was released theatrically and streaming on Shudder that year. The film’s limited theatrical release grew to include over 130 bookings across North America, and it quickly became one of the most-watched premieres on the network. Phil Tippett is the visionary behind some of cinema’s most iconic characters such as Jabba the Hutt and the Rancor Monster in RETURN OF THE JEDI, the Tauntauns and Wampa in THE EMPIRE STRIKES BACK, the Raptor and T-Rex stop motion puppets in JURASSIC PARK, and the ED-209 from ROBOCOP. For more information, please visit www.phantomfx.com and www.tippett.com
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