The Canal Street company - subsequently bought back by two of the original directors for £2m - is now part of plans to place Manchester at the centre of the growth in high-quality but low-budget computer generated TV and film production.
Red Vision was bought by the Inspired Gaming Group in 2006, in a deal involving an initial payment of £3.3m, rising to £20m depending on profits. The money was shared between the directors and institutional investors.
Other payments have been made since the deal, and a final earnout of £11m is expected to be shared between the quintet following a financial audit next month.
Inspired Gaming wanted to get its hands on technology created by Red Vision which would allow it to operate a gambling business based on the outcome of randomly-generated digital horse race events.
It still operates within the same building, but became a separate entity earlier this year when Red Vision regained its independence. Three of Red Vision's original shareholders - Steve Rogers, Steve Goldman and Pete Metelko - have remained with IGG, while the remaining two, managing director Dave Mousley and Pete Farrer, now have plans to grow the film and TV business.
The duo, who used some of the proceeds of the sale of their shares for the buyback, said today they believe Red Vision can be a catalyst for the growth of Manchester's independent television production sector.
With expansion in mind, Red Vision is to move to George Leigh Street, Manchester, in two weeks' time, and has taken space at Manchester city council's multi-media hub project within the former Sharp factory.
Mr Mousley said that he is also committed to opening a presence at the mediacity:uk site in Salford Quays.
Staff are already working on a second series of ITV's satirical Headcases show, which this week earned Red Vision an award for innovation from the Royal Television Society, and the team has plans to generate new material, including a sci-fi series and feature film.
Next year will also see Red Vision test its Virtual Super Studio International technology, which is backed by the city council and the government of Western Australia.
Mr Mousley said he had no plans to walk away from Red Vision and that he was intent on building the business in a number of ways.
One initiative has seen Red Vision buy a 25 per cent stake in a company called Wide Eyed Entertainment.
Mr Mousley said: "We really think that we can help Greater Manchester's film and television sector to grow and believe that the city could prosper as a low-cost base for high-quality production. If we can do it, there's no reason why every-body else can't."
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