Hong Kong / Luxembourg / Karlsruhe, February 18, 2021 (GLOBE NEWSWIRE) –
- Creation of the Digital Domain Capital Partners subsidiary in Luxembourg to facilitate its expansion through financial investments
- Digital Domain Capital Partners signs an agreement to acquire a 19% stake in the German company EdTech asknet Solutions AG
- With its leading offer in visual effects, virtual reality and virtual human technology, Digital Domain will target other opportunities in Europe
Digital domain, a global market leader in visual effects, digital humans, virtual reality and virtual production joins the dynamic German market for EdTech and e-learning. The Hong Kong-Group announced today that it has reached an agreement to acquire a 19% stake in German capital asknet Solutions AG via its recently created Luxembourg subsidiary, Digital Domain Capital Partners.
Daniel Seah, CEO of Digital Domain Holdings Limited (Digital Domain), highlights the strategic value of the investment: Digital Domain has shown strong performance in its key markets in North America and Asia throughout the pandemic. Entering the European market is the next logical step in our success: the European entertainment, advertising and education markets are ready for our unique offering of visual effects, virtual reality and virtual human technology.
asknet Solutions AG, founded in 1995, is a leading academic-focused purchasing, e-commerce and payment specialist. The company provides software buying and selling services for European academic institutions, including faculty, students and alumni. The shopping portals offered by asknet are used by more than 80% of German universities.
Christian Herkel, CEO of asknet, sees great potential in this new partnership: the combination of the revolutionary Digital Domains technology and our position in the German EdTech market will have a real impact. The current status of home and distance education clearly shows that the German education sector is ready for a more engaging and entertainment-based approach.
Daniel Seah adds: The COVID-19 crisis has shown that significant gaps remain in the online learning space. The digitization of education is here to stay and has enormous potential for growth. Now is the perfect time and EdTech is the perfect space for Digital Domain to bring its unique offering to the European market. One of the many opportunities offered by this new partnership between Digital Domain and asknet is the introduction of virtual humans in the field of education.
We will bring Hollywood technology to the education space in Germany to fill this gap in the e-learning market. Through the application of artificial intelligence and virtual human technology, it will break the limitation of time and space, make teaching more visualized, and establish a high concentration learning scene and atmosphere. Imagine your favorite movie character teaching English to schoolchildren, real-time teaching interaction with students through virtual human technology will dramatically improve students’ attention and interest in learning, especially in hard times like this.
Digital Domain sees its participation in asknet as the first of many steps in its European expansion. Through its new subsidiary Digital Domain Capital Partners, Digital Domain is considering new transactions in Germany and Europe. Europe offers strong growth potential alongside the education sector, we believe that the areas of entertainment, advertising and media production are particularly attractive, says Daniel Seah.
Digital Domain has grown to be the leader in the visual effects industry over the past quarter century, expanding globally into virtual reality, virtual production, and visualization.
The company founded in 1993 by legendary director and three-time Oscar winner James Cameron along with Stan Winston and Scott Ross now has offices in Los Angeles, Vancouver, Montreal, Beijing, Shanghai, Shenzhen, Taipei, Hong Kong and Hyderabad. Digital Domains’ groundbreaking visual effects appear in hundreds of iconic award-winning feature films such as Titanic, The Curious Benjamin Button, and recent blockbusters Avengers: Endgame and Ready Player One.
About the digital domain
Digital Domain creates transportation experiences that entertain, inform and inspire. Over the past quarter century, the studio has grown to become the leader in the visual effects industry, expanding globally into digital humans, virtual production, preview, and virtual reality, and adding commercials, in-game cutscenes, and episodics to the strong movie roster. The rich legacy of Digital Domains consists of hundreds of blockbuster feature films including Titanic, The Curious Benjamin Button and Blockbusters Ready Player One, Avengers: Infinity War and Avengers: Endgame for all major studios and thousands of commercials, music videos, game cutscenes and digital content from world-class directors and brands. Staff performers have won over 100 major awards, including Oscars, Clios, BAFTAs and Cannes Lions.
Digital Domain successfully became the first independent visual effects studio to enter Greater China. In 2018, Digital Domain acquired one of China’s pioneer and leader in VR hardware equipment – VR Technology Holdings Ltd, Shenzhen (3Glasses). Digital Domain has sites in Los Angeles, Vancouver, Montreal, Beijing, Shanghai, Shenzhen, Hong Kong, Taipei, and Hyderabad. Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 547).
Digital domain: www.digitaldomain.com /
asknet Solutions AG is listed on the Frankfurt Stock Exchange (symbol: ASKN; ISIN DE000A2E3707).
Ashley Tillett Digital Domain 5037969822 [email protected]
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