US special effects firm opens studio following $80m investment
Digital Domain, the Hollywood effects house co-chaired by Transformers director Michael Bay, is to open a fully fledged games production studio.
Based in Florida, the new team will founded using some $80m in investments - a mix of money from its own coffers and public funding. $50m from its new parent firm Wyndcrest Holdings, $10m from local property development agencies, plus a $20 million grant from the state of Florida's Office of Tourism, Trade and Economic Development.
The move makes good on a two-year-old promise by Bay to start making games. At the time, Bay said: "I make world-class images. Why not put those images into a game?"
According to Variety, the deal to open the production firm means Digital Domain has promised to create 500 graphics and computer arts jobs in the state of Florida paid an average of $65,000 each within four years.
Digital Domain already has its HQ in Los Angeles and a recently-opened studio in Vancouver. It employs around 330.
The firm is known for special effects work on recent films like Star Trek, and started in the business working on movies like True Lies in 1994.