Vancouver, B.C. - Rainmaker Income Fund has entered into a definitive agreement to sell two divisions of its wholly owned subsidiary Rainmaker Entertainment Inc. to Deluxe Entertainment Services Group Inc.
The purchase by Deluxe will include Vancouver-based Rainmaker Visual Effects and Rainmaker Post, and Rainmaker's London, England, visual effects facility. It will not include the Rainmaker Animation division based in Vancouver.
Rainmaker, an award-winning pioneer with a 28-year history in the Canadian postproduction services industry, is the largest visual effects and animation company in Canada. The sale to Deluxe will allow Rainmaker Entertainment to concentrate solely on CG animation and content ownership. Rainmaker is in production on Escape From Planet Earth, a theatrical feature film for The Weinstein Company and in development on a 3D stereoscopic feature film trilogy based on ReBoot, Rainmaker’s classic television series.
Deluxe, a provider of a broad range of entertainment services and technologies to the film industry, has been strategically adding to its slate of companies worldwide. Extending its laboratory, postproduction, and visual effects capabilities to Vancouver and expanding to high-end visual effects resources in London, is the next step in Deluxe’s full-service offerings to customers throughout the global entertainment industry. With its many long-standing customer relationships, the acquisition of Rainmaker is ideally suited for Deluxe to better serve its client base in Vancouver and London.
Completion of the acquisition by Deluxe is subject to the approval of Heritage Canada and to other customary conditions. The transaction is expected to be completed on December 31, 2007.