Sony Pictures Television (SPT) is acquiring Octonauts producer Silvergate Media which focuses on developing, producing and licensing children’s animation with offices in both London and New York. Silvergate CEO Waheed Alli and chairman William Astor, who together founded the company in 2011 will continue in their respective roles. Sony Pictures Entertainment acquired a minority stake in Silvergate BP Bidco, which produces the animated Peter Rabbit series. Silvergate BP Bidco will continue to be majority-owned by Alli. Silvergate was founded in October 2011 through the purchase of rights to two preschool properties. Over the past several years, the company has significantly expanded its children’s IP. Silvergate also has a strong and growing presence in China, collaborating with Chinese conglomerates and effectively monetizing IP with its partners. Silvergate’s current production slate includes three new seasons of global hit Octonauts (subtitled Above and Beyond), two 70-minute movies and a 44-minute musical starring the intrepid ocean adventurers; a second season and 70-minute movie for Netflix original Hilda; season 2 of Sunny Day for Nickelodeon; and new series Made By Maddie, Monkey with a Toolbelt, Creature Cases (Netflix) and a new Disney series TBA.