Top Story


Home >> Media – Print >> Article

Crest, Rich set to merge

Font Size   16
Crest, Rich set to merge

In February this year, Crest Communications acquired control of Rich Animation through a buyout deal, which did not involve any payout from Crest’s side. A few non-resident Indian shareholders of Crest paid about $5 million for a complete buy-out of Rich Animation.

Under the agreement at that time, Crest would offer fee-based strategic and advisory services to Rich. The merger of Rich Animation into Crest Communications is expected to significantly boost Crest’s top-line growth. Rich Animation is currently working on assignments with large Hollywood banners such as Warner Brothers, Universal Studios and Columbia Tristar.

At present, Crest’s animation business accounts for about 40-50 per cent of its annual turnover but it expects this to grow to about 70 per cent in the next financial year. For the year ended March 31, 2000, Crest’s total income stood at Rs 16.1 crore. Profit after tax was Rs 2.4 crore.

Crest is involved in providing advertising films, animation and graphics, software production for media, post-production facilities etc. It has alliances with production houses in the US and Europe and has animation orders worth about $22 million in hand.

Crest also plans to provide television software content to channels in India and abroad. For this, it has set up a 100-per cent subsidiary in Singapore. This subsidiary has tied up with Singapore-based Tamil channel, Vasantham, for providing television software.

In 1999, the animation business contracted out of Asia alone was worth $4.5 billion and Indian animators had a 10 per cent slice of that business.


Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams

Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular