Singapore-based Elasticity and Toronto-based Rune Entertainment have announced their merger to form Rune Entertainment International.
There is much synergy between the two companies and they will share their expertise to produce short and long from content including intellectual property (IP), films and TV in both animation and live action. Elasticity will be the technology partner and will focus on emerging technologies whereas Rune Entertainment will focus on new ideas, stories and scripts.
The new company, Rune Entertainment International, will have a physical base in Singapore into which Rune Entertainment International has already started investing capital. The studio in Singapore is currently being set up while the rest of the capital is being used for further development in Toronto, and investing in people, stories, scripts and technology.
The company is also hiring. Moving forward, Rune Entertainment International will focus on the integration of story-driven production and emerging technologies such as holographic projection which will drive new forms of entertainment.
Elasticity is funded by Thymos Capital LLP under the iJAM scheme.
Disclosure: Gwen and BL are partners in Thymos Capital LLP.
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