Video content company Imagica Robot Holdings (Imagica Robot HD) announced on Tuesday that it is acquiring anime studio Oriental Light and Magic (OLM). The acquisition is valued at 2.858 billion yen (about US$23.58 million), and will see Imagica Robot HD acquire a 51.33% majority stake in OLM. The deal will make OLM a subsidiary of Imagica Robot HD.

The actual date of execution of the stock purchase is tentatively set at April 4.

OLM is best known for production on such anime as the various Pokémon television anime, films, and video anime, as well as the Yo-kai Watch television anime and films. They also animated the Future Card Buddyfight, Berserk , Inazuma Eleven , ToHeart , and Utawarerumono anime as well as the recent Miss Hokusai film. The company had just announced the ISSEN brand, a joint developmental venture with card game and multimedia company Bushiroad.

In its fiscal year report on May 31, OLM reported net earnings of 7.912 billion yen (about US$65.31 million), an operating profit of 1.092 billion yen (about US$9.01 million), and a net income of 956 million yen (about US$7.892 million).

Imagica Robot Holdings operates a post-production and media house that handles home video authoring and assists in media production. The company also runs specialty television channels such as Imagica BS, which specializes in foreign language films, and Kayopops channel, which specializes in Japanese pop music. The company partnered with Sumitomo Corporation and the Cool Japan Fund earlier this year to acquire SDI Media, an LA-based post-production firm that specializes in localizing foreign media.

Source: Anime! Anime!