DNEG, a foremost visual effects and animation company, has recently concluded its acquisition of Prime Focus Technologies (PFT) following the memorandum of understanding that was announced in April of last year. This action brings both companies under the umbrella of the parent company, Prime Focus, and signifies the consolidation of their VFX and cloud technology offerings under the DNEG brand.
The acquisition of Prime Focus Technologies, renowned for its media workflow and automation software suite, Clear, as well as the Clear AI platform, will significantly bolster DNEG’s capabilities in the areas of media tech and distribution services. Both Clear and Clear AI are esteemed products in the media and entertainment industry, powered by cutting-edge ‘Machine Wisdom’ technologies.
This strategic move also lays the groundwork for DNEG’s planned expansion into various services such as fulfillment, localization, and marketing, while also resulting in the addition of new offices in Europe, North America, and India.
Notably, DNEG’s acquisition of PFT comes shortly after their recent announcement of a $200 million investment from the United Al Saqer Group. This substantial investment has led to the establishment of Brahma, a new technology division within DNEG that is focused on developing an AI-powered, photo-real CGI creator.
According to Ramki Sankaranarayanan, founder and global CEO at PFT, the collaboration with DNEG represents a significant step towards embracing an AI-first approach across the content value chain. This forward-looking strategy is poised to drive transformation and unlock new revenue opportunities for clients, reflecting the companies’ commitment to innovation and delivering value.
Chairman and CEO of DNEG, Namit Malhotra, emphasized the importance of investing in proprietary technology as a cornerstone of the company’s operations. The addition of PFT’s technology and services further reinforces DNEG’s position as a global leader, presenting new opportunities and advantages for partners and clients across the entire content lifecycle.
Malhotra further highlighted the significance of this acquisition in enabling DNEG to pursue its technology vision and elevate the quality of content creation, production, and delivery on a global scale, including in their newly announced Abu Dhabi hub.
In essence, the completion of DNEG’s acquisition of Prime Focus Technologies marks a significant milestone for both companies, setting the stage for enhanced technological capabilities and innovative offerings in the realm of visual effects and media services.