UK-based CGI house 422 South has reached a deal to split from its parent company, Sky Vision, and continue trading as a new, independent company.
Financial terms for the deal were not disclosed. Sky Vision was formerly known as Parthenon Media Group, prior to the company’s acquisition by Sky earlier this year.
422 South creative director Andy Davies-Coward, who will lead the new company alongside fellow director Craig Howarth, said in a statement: ‘Following BSkyB’s acquisition of Parthenon Media Group in July 2012, the primary focus has been the development of its distribution capabilities.
“As a CGI house, we felt this presented an opportunity for us to refocus our core activity and the direction we want to take the business. Our aim is to continue to support our existing clients and expand into new markets.
“I would like to thank Carl and the team at Sky Vision for their support and we look forward to continuing to work with Sky Vision as a supplier in the future.”
422 South became part of Parthenon Media Group in 2010. The company supplies visual FX and CGI to broadcast television and commercials producers around the world.