South China Morning Post – Digital Domain raises fresh investment from Qualcomm chairman
10.19.16Digital Domain Holdings, which operates the world’s largest independent visual-effects company, has raised new investment from Qualcomm executive chairman Paul Jacobs amid an ambitious effort to build its first production facility in mainland China.
In a filing with the Hong Kong stock exchange on Tuesday night, Digital Domain chief executive Daniel Seah Ang said the company agreed to allot and issue a total of 70 million shares to the Paul E Jacobs Trust for HK$38.5 million. That announcement followed Digital Domain’s signing of a memorandum of understanding with Chinese conglomerate Dalian Wanda Group, the world’s biggest private property developer and cinema chain operator.
“With Wanda Studios Qingdao, the world’s largest film and television industrial park, we’re bringing not only our top-notch Hollywood technologies, but also establishing the largest motion capture stage in Asia,” Seah said in a statement.