NewQuest buys Cosmos-Maya from KKR's Emerald Media
Direct secondaries specialist NewQuest Capital has acquired Indian animation studio Cosmos-Maya from Emerald Media, an Asian media platform backed by KKR.
Financial terms were not disclosed, although The Economic Times estimated the value of the transaction at around $90 million. Emerald acquired Cosmos in 2018 for an undisclosed sum.
Cosmos describes itself as one of the fastest-growing animation companies in Asia. Some of its best-known cartoons include Indian titles Motu Patlu, Selfie with Bajrangi, and Dabangg. Developments under KKR include an expansion into education, with Cosmos now claiming to be among the largest animated content providers to leading education technology players in India and the US.
The company also operates various bouquet YouTube channels under the umbrella brand WowKidz, which have proven popular regionally. These channels have a cumulative subscriber base of more than 65 million and a total view count of around 35 billion as of May 2021. Some of WowKidz’s more successful shows include Hotwheels and the Chinese animation series Boonie Bears.
India remains the primary market, but recent activity includes an aggressive expansion in the US and Europe, where several TV series, shows, and independent feature films targeting western audiences have been produced. Cosmos also maintains a presence in Singapore and claims to have delivered intellectual properties (IP) to every major local and global broadcaster in Asia. Its IP portfolio features more than 20 titles.
“This is a new and interesting chapter for us as we look at larger markets and newer challenges. Emerald Media has been a great support in our growth story and now this investment from another great investor like NewQuest is a testament to our market leadership and strong operating performance,” Anish Mehta, CEO of Cosmos, said in a statement.
“Their experience, network and industry knowledge will help supercharge our growth, organically and through strategic acquisitions.”
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