The companies have previously worked together on projects including Bridgerton (Season 1 and 2), Fantastic Beasts: The Secrets of Dumbledore, Napoleon, Zone of Interest, and Luther: The Fallen Sun. The partnership will see the combined capacity of both studios reach more than 900 artists, enhancing their ability to tackle larger and more diverse projects.

Mukesh Bulsara, partner at Coadax, led the deal, acting for One of Us. He said: “We are proud to have played a pivotal role in this transaction, further establishing our reputation as a leading M&A advisory firm. Our comprehensive role in deal origination and execution ensured our client has secured a fantastic future of growth with an international partner on board..

“The completion of this deal signifies a major advancement for the VFX industry – highlighting the growing importance of international collaboration and investment in creative industries. The partnership not only strengthens the global presence of both highly respected studios, but also enriches the creative capabilities available to filmmakers and content creators worldwide.”

Basilic Fly Studio started with a small team of artists in Chennai over a decade ago. From these beginnings, it has grown to a workforce of more than 500 people and includes studios in Chennai, Pune, Vancouver and London. The company’s journey includes getting listed on the India Stock Exchange.

Founded in 2004, One of Us Limited, which has studios in London and Paris, employs more than 450 artists. It has won two BAFTA TV awards for its work on both The Crown and The Witcher, and an Emmy for The Alienist.

Balakrishnan, CEO and co-founder of Basilic Fly Studios, said: “Since founding Basilic Fly Studios with my colleagues back in 2013, we have always wanted to create an international partner for film, TV and streaming industry and this deal with One of Us is an important milestone in this vision.

“Over the years, we have worked together on multiple projects, so we know each other incredibly well. It was immediately clear that we shared a belief in the central role of talented artists within a wider vision and culture. Throughout our relationship, I have been blown away by the skill of the One of Us team, and together with the talent of the BFS team, I am certain that we can achieve great things together.”

Rachael Penfold, CEO and co-founder of One of Us, added: “The film industry is full of challenges, and VFX is often front line – inventing new ways to realise the creative appetites and imaginations of filmmakers and creators alike.

“The opportunity to combine with a fast-growing studio like BFS – working closely with Bala, Yoga and their fantastic leadership – is very exciting for us. It allows us to expand in ways we would not easily achieve on our own. We will bring together our brilliant and talented teams, offering a greater diversity of choice within the sector and more exciting opportunities into the hands of our artists.

“This will be a powerful and agile offering, at a time when the industry is transforming itself, and engaging with the work requires new and innovative thinking. On a day-to-day basis, it will remain business as usual, with myself and the founders overseeing the London studio, and Emmanuel Pichereau providing leadership in Paris.”