iCandy Interactive’s subsidiary Lemon Sky Studios has appointed a seasoned industry leader to drive global partnerships, secured over A$1 million in recent contracts, and is exploring strategic options to unlock shareholder value.
- Richard Bereish appointed Head of Global Partnerships at Lemon Sky
- Recent contract wins exceed A$1 million, including a multimillion-dollar animation series
- Lemon Sky expanding global presence with teams across multiple countries
- Exploration of AI-enabled workflows to enhance production efficiency
- iCandy considering strategic initiatives including potential listing or divestment of Lemon Sky
Strengthening Global Partnerships
iCandy Interactive Limited (ASX – ICI) has taken a significant step to bolster its subsidiary Lemon Sky Studios’ global engagement by appointing Richard Bereish as Head of Global Partnerships. Bereish brings a wealth of experience from senior roles at industry giants such as Electronic Arts, Codemasters, and Sony Computer Entertainment, having contributed to renowned franchises like FIFA and Madden. His leadership is expected to deepen Lemon Sky’s collaborations with AAA game developers and publishers worldwide, positioning the studio for scalable growth.
Recent Contract Wins Signal Momentum
The start of 2026 has been promising for Lemon Sky, with contract wins exceeding A$1 million in just six weeks. Notably, the studio has secured a contract for 3D art and animation tied to a globally recognised intellectual property for an immersive experience project. Additionally, a multimillion-dollar animation TV series is in principle agreed upon, pending formal contracts. Repeat business from clients in South Korea and Japan further underscores Lemon Sky’s growing footprint in key Asian markets.
Global Expansion and Industry Presence
Lemon Sky’s operations now span the USA, UK, Japan, South Korea, and Southeast Asia, reflecting a truly globalised business model. The company’s business development team has been active on the international conference circuit, attending events such as the Dice Summit in Las Vegas and the Game Developer Conference in San Francisco. These efforts aim to secure new partnerships and maintain momentum in a competitive video game industry landscape.
Innovation Through AI-Enabled Workflows
In a bid to enhance creative production capabilities, Lemon Sky is exploring AI-enabled tools and workflows. While still in various stages of evaluation and implementation, these initiatives could deliver significant efficiency gains and broaden the studio’s appeal to a wider customer base. This move aligns with broader industry trends where artificial intelligence is increasingly integrated into content creation processes.
Strategic Review to Unlock Shareholder Value
iCandy’s board is actively considering strategic and corporate initiatives to unlock the intrinsic value of Lemon Sky, which it believes is materially undervalued relative to iCandy’s current market capitalisation. Options under review include a potential public listing of Lemon Sky on a major securities exchange or a partial/full divestment to a larger entity. While no decisions have been made and any transaction would require shareholder and regulatory approval, the company is signalling a clear intent to enhance returns for its shareholders.
Bottom Line?
As iCandy navigates strategic options for Lemon Sky, investors will watch closely for moves that could reshape the company’s valuation and market positioning.
Questions in the middle?
- Will the multimillion-dollar animation TV series contract be formalised soon?
- How will AI-enabled workflows impact Lemon Sky’s production timelines and costs?
- What strategic path will iCandy ultimately choose to unlock Lemon Sky’s value?