Toon Boom wins HSBC International Business of the Year, Small and Medium Enterprise Award

MONTREAL, May 11 /PRNewswire/ - Toon Boom Animation Inc. has won the inaugural HSBC International Business of the Year - Small and Medium Enterprise Award.

As part of the Business without Borders program, the HSBC International Business Awards honours Canadian companies that have successfully branched out beyond our borders.

"Canada is home to over 2.3 million businesses - the overwhelming majority of which are small and medium enterprises - and we are a nation of traders. HSBC Bank Canada is very proud to celebrate their accomplishments internationally," said Mark Watkinson, Senior Executive Vice President, Head of Commercial Banking, North America, HSBC. "Toon Boom embodies the spirit of entrepreneurship and opportunity in global business, and we salute their accomplishments."

Joan Vogelesang, President and Chief Executive Officer credits determination, passion and high quality standards as well as extensive presence in the field with the company's win. Vogelesang said, "It such an honour to be acknowledged for the amazing work the Toon Boom team has been doing internationally for 15 years, not only with the prestigious studios such as Disney and Warner Brothers, but also in the areas of education and online business."

To be eligible, firms must be majority Canadian owned (50.1 percent); headquartered in Canada; generate at least 10 percent of their revenue from activities outside of Canada; and have minimum sales of CAD $2.5 million for each of the last two fiscal years. Applications were selected by a judging committee drawn from Canadian Business magazine, The Globe and Mail Report on Business, Import Export Canada, the Economist Intelligence Unit, the Desautels Faculty of Management at McGill University, and the Sauder School of Business at the University of British Columbia. PwC Canada performed due diligence on all the finalists.

About the HSBC International Business Awards:
The HSBC International Business Awards are an important, new awards program that will honour Canadian firms that have made a real difference in taking their products and services to the world. More information at http://www.hsbc.ca/1/2/en/business/resource-centre/bwob-awards

About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, has more than 260 offices, including over 140 bank branches, and is the leading international bank in Canada. With around 7,500 offices in 87 countries and territories and assets of US$2,455 billion at 31 December 2010, the HSBC Group is one of the world's largest banking and financial services organizations.

About Business without Borders
Canada's newest and best source of news and information to help businesses grow internationally, Business without Borders (www.bwob.ca) was created and developed by HSBC Bank Canada in association with Rogers Publishing Ltd and the Globe and Mail.

About Toon Boom Animation Inc.
Toon Boom Animation Inc. (toonboom.com) is the worldwide leader in digital content and animation creation software. Toon Boom carries user-friendly animation applications for all, catering to the needs of children, home users, creative professionals as well as students, educators and schools.

SOURCE TOON BOOM ANIMATION INC.