Paris-based CG animation studio TeamTO, which declared insolvency on September 17, is up for sale—and three companies have stepped forward with offers to buy it.

TransPerfect, the French subsidiary of a same-name American company that does translation and localization work, has offered a sale price of US$431,000 and more than US$2 million in additional capital financing. This purchase would give it a division that’s focused on production. 

Educational brand-builder Hildegarde, on the other hand, has offered roughly US$10,000 to add a CG animation studio to its portfolio. Hildegarde’s business is focused on magazine publishing, cinemas and schools, but it already owns French production companies Les Armateurs and Folimage, and distributor Gebeka Films. 

The third offer is from Gabriel Finance, a film and distribution investment company willing to spend US$571,000 on this acquisition. If successful, its plan is to focus TeamTO exclusively on series production (dropping games, digital and R&D) and limit its output to two shows a year. Gabriel Finance is forecasting that TeamTO’s catalogue sales will generate around US$323,000 in annual revenue. Company chair Adrien Desanges owns Tcham Films, Mandoline Films and Studio des Ursulines (the iconic Parisian cinema that also runs Benshi, an SVOD service specializing in family films).

The Commercial Court of Paris will evaluate all three offers on October 30, and they can be changed up until October 25. 

TeamTO was established in 2005 and has produced original series such as Mighty Mike, Angelo Rules (pictured, season six is in production) and Jade Amor (season two is in production). It has also done animation service work on third-party titles including Hasbro’s Kiya & the Kimoja Heroes. 

CEO Guillaume Hellouin attributes the studio’s cash issue to the collapse of its work-from-home business in LA two years ago, compounded by the worldwide market downturn that’s making it very difficult for animation studios to get new content financed.