asknet Solutions AG welcomes Digital Domain as new investor and strategic partner

February 22, 2021

February 22, 2021, Karlsruhe – asknet Solutions AG and Digital Domain Holdings Limited, a Hong Kong listed company (547: HKG) and a global market leader in visual effects, digital humans, virtual reality and virtual production, have defined the key aspects of their strategic partnership. As recently announced, the Hollywood VFX pioneer, Digital Domain, has acquired a 19% stake in asknet Solutions AG via its subsidiary, Digital Domain Capital Partners.

The key rationale behind this partnership is for Digital Domain Holding Limited to obtain access to the European Ed-Tech market, developing and selling educational products and technologies in close cooperation with asknet Solutions AG, and for asknet Solutions AG to benefit from the additional earnings potential.

asknet CEO, Christian Herkel, sees a great potential in this new partnership: The combination of Digital Domain's groundbreaking technology and our position in the German EdTech market will have a real impact. The current status of home and distance learning clearly shows that the German education sector is ready for a more engaging and entertainment-based approach.

Daniel Seah, CEO of Digital Domain Holdings Limited, adds: The COVID-19 crisis has shown that significant gaps still exist in the e-learning space. The digitization of education is here to stay and holds enormous growth potential. Now is the perfect moment and EdTech is the ideal space for Digital Domain to bring its unique offering to the European market. One of the numerous opportunities this new partnership bears is the introduction of virtual humans into the sphere of education.

We will bring Hollywood technology to the educational space in Germany to fill this gap in the e-learning market. The application of artificial intelligence and virtual human technology will help to break the limitation of time and space. It will make teaching more visual, and will create a high concentration learning environment. Imagine your favorite movie character teaching kids English. The real-time teaching interaction with students through virtual human technology will greatly improve students' attention and interest in learning, especially in demanding times like this, stated Daniel Seah.

Digital Domain has grown to lead the visual effects industry throughout the last quarter of a century, expanding globally into virtual reality, virtual production and visualization. The company founded in 1993 by James Cameron, the legendary movie director and three times Oscar-winner, and Stan Winston and Scott Ross, today has offices in Los Angeles, Vancouver, Montréal, Beijing, Shanghai, Shenzhen, Taipei, Hong Kong and Hyderabad. Digital Domain's groundbreaking visual effects appear in hundreds of iconic award-winning feature films such as Titanic”, The Curious Case of Benjamin Button and recent blockbusters Avengers: Endgame and Ready Player One.

About asknet Solutions AG
asknet Solutions AG, founded in 1995, is a leading procurement, e-commerce and payment specialist focusing on the academic universe. The company offers software procurement and sales services for European academic institutions, including professors, students and alumni. The procurement portals offered by asknet are used by more than 80% of German universities of higher education. asknet Solutions AG is listed on the Frankfurt Stock Exchange (Ticker: ASKN; ISIN: DE000A2E3707).

About Digital Domain
Digital Domain creates transportive experiences that entertain, inform and inspire. Throughout the last quarter of a century, the studio has grown to lead the visual effects industry, expanding globally into digital humans, virtual production, previsualization and virtual reality, and adding commercials, game cinematics and episodics to the robust film roster. Digital Domain's rich legacy consists of hundreds of blockbuster feature films including Titanic, The Curious Case of Benjamin Button and blockbusters Ready Player One, Avengers: Infinity War and Avengers: Endgame for every major studio and thousands of commercials, music videos, game cinematics and digital content by world-renowned directors and brands. Staff artists have won more than 100 major awards, including Academy Awards, Clios, BAFTA awards and Cannes Lions.

Digital Domain has successfully become the first independent visual effects studio to enter Greater China. In 2018, Digital Domain acquired one of China's VR hardware equipment pioneers and leaders - VR Technology Holdings Ltd, Shenzhen (3Glasses). Digital Domain has locations in Los Angeles, Vancouver, Montreal, Beijing, Shanghai, Shenzhen, Hong Kong, Taipei and Hyderabad. Digital Domain Holdings Limited is listed on the Hong Kong Stock Exchange (stock code: 547).

Magda Gajny