Cyprus-based entertainment company Outfit7 has been wholly acquired by China’s United Luck Consortium for US$1 billion. The deal will see Outfit7 employees in the UK, Slovenia, China and Cyprus continue to grow its flagship show Talking Tom and Friends.

The original Talking Tom IP was introduced as an app in 2010 and has since evolved into a global franchise comprised of consumer products and a suite of apps and games.

To date, Talking Tom and Friends has attracted 10.3 billion views, with 10.6 million combined subscribers on YouTube, with two 52 x 11-minute  seasons. A new season is expected to premiere this year. Meanwhile, Outfit7’s apps for the Talking Tom and Friends franchise have garnered more than 5.6 billion downloads.

On the consumer products side, last year Outfit7 capitalized on its YouTube-powered licensing model by launching toys and plush with UK-based toymaker Dragon-i, along with an app-powered toy line called Talking Friends Superstar.  The company also recently inked a deal with MoMedia to bring the series to global SVOD services.