Toon Boom Animation has announced it has closed a definitive agreement with Cambridge Animation Systems, to acquire all of the Intellectual Property of Cambridge and the Animo product line. The company says that "this acquisition furthers Toon Boom’s market consolidation strategy in the global animation industry and reinforces its leadership in the media, entertainment and educational arenas."

"We welcome Animo customers to Toon Boom," said Joan Vogelesang, president and CEO at Toon Boom. "Toon Boom caters to the needs of the animation community at large and will continue to remain on the leading edge of technology, efficiency and creative freedom. As a proponent of digital pipelines, media convergence and 2D/3D integration, this acquisition is expected to accelerate Toon Boom's objective in delivering powerful animation solutions."

Toon Boom notes that Cambridge Animation Systems’ has a high-profile presence in Europe and Asia, and that the company will use the acquisition to boost it's position in these markets.