The deal will see Simba Toys launch an initial range of figures, play sets and role-play toys and accessories.
Targeting kids from ages six to nine, initial products will roll out in Germany, Austria, Switzerland, the UK and Nordic countries in Q3 2018.
The line will later expand into additional categories including outdoor, die-cast and radio-controlled vehicles and wheeled toys.
The Deep is co-produced by Australia’s A Stark Production and DHX Media. Technicolor holds underlying rights to the property. The series follows the Nekton family on their underwater adventures involving mysteries and monsters.
The show’s second season was first shown on the UK’s CBBC in July, Australia’s ABC ME daily in August and Canada’s Family CHRGD on September 5.
DHX Media recently signed 16 new agreements for the show’s second season, including deals with Universal Kids (US), Nickelodeon (Greece), NRK Super (Norway) and Zap (Angola and Mozambique).
In addition to launching new consumer products inspired by the series, Technicolor has also expanding into location-based brand extensions.
Last month, Technicolor got into a deal with Merlin Entertainments to bring interactive experiences based on The Deep to more than 20 sea life aquariums in the UK and Germany.