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Hyderabad-based animation and visual effects firm DQ Entertainment has earmarked a capital expenditure of Rs 250 crore over the next three years for co-production of animation films, bringing in new softwares. The firm also has plans to start a distribution arm. "We plan to infuse around Rs 250 crore in the next three years for co-producing animated films and for bringing in new software," DQE MD and CEO, Tapas Chakravarti said. The company was also looking at setting up an distribution company in association with France based Onyx films, he added. Recently DQ and France based Onyx Films have started CGI Films in a joint-venture partnership to produce animation films with an investment of euro 1.5 million. The expansion plans would be funded by divesting stakes to new private equity partners and also to the exisiting ones, said Chakravarti. DQE is jointly owned by a group of International venture equity partners including International Finance Corporation, Washigton, TDA Capital group, Gary Wendt, i-Labs, and IL&FS. DQE has also taken a 20 per cent stake in the French firm's television arm, Method Films for Euro two million. The venture has identified three feature films valued USD 89.5 million, Chakravarti said. When asked about any plans of tapping the markets, Chakravarti said, there were no plans in the immediate future but they were open to the idea.
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