Share placing at Sheffield firm serving Hollywood studios
Posted on March 31, 2021 by Jonathan Symcox
ZOO Digital Group has raised £7.4 million in a share placing.
The listed company, headquartered in Sheffield with hubs in Los Angeles, London and Dubai, was founded in 2001 and serves clients including major Hollywood studios and streaming services.
It provides cloud-based localisation and digital distribution services, including dubbing, subtitling and artwork.
The company, which intends to boost its R&D capabilities and establish regional hubs for media services in India and South East Asia, said it is targeting $100m sales in the medium term.
“The structural shift to remote working within our sector has gathered pace over the last 12 months alongside the accelerated adoption of streaming services and demand for back catalogue programming,” said CEO Stuart Green.
“As a leading innovator in the sector, Zoo is well placed to address the significant and growing requirements of the global entertainment industry for our cloud-based market-leading services.
“The proceeds from this fundraise will enable ZOO to boost our R&D capabilities and expand our international business to further build on our position within the market.
“With a medium-term target to achieve $100m in sales, we plan to continue to invest for growth and win market share to become one of the largest end-to-end vendors in an expanding global market.”