Mumbai: The DNEG Group which offers visual entertainment technology and services has announced the completion of its acquisition of Prime Focus Technologies (PFT), a creator of AI-powered technology solutions for the Media and Entertainment (M&E) industry. PFT, which was previously a subsidiary of the Group’s parent company Prime Focus has offices across North America, Europe, and India.
The strategic acquisition, which was previously announced with the issue of a memorandum of understanding on 13 April, 2023, boosts the Group’s technological capabilities with PFT’s media workflow and automation software suite, Clear, and Clear AI, a multi-modal Gen AI platform powered by patented ‘Machine Wisdom’ technologies, purpose built for the M&E industry. They offer streaming platforms, studios, broadcasters, and brands transformational solutions to help manage content, video collaboration and automation in the content production and distribution process.
Acquiring the software-as-a-service business of PFT advances the DNEG Group’s status as an end-to-end solutions provider, enabling its expansion into media tech and distribution services, including fulfillment, localisation, and marketing, and allowing the Group’s worldwide M&E client-base to realize the financial, operational, and strategic benefits of managing the entire lifecycle of their content with one trusted partner.
The completion of the acquisition follows the announcement last week of a $200 million investment in the DNEG Group by leading Abu Dhabi-based investor United Al Saqer Group. The investment accelerates the DNEG Group’s strategy of innovation and diversification, including the activation of a new division, Brahma, which is developing a comprehensive AI-powered, photo-real CGI creator which will democratize photo-real content creation in a wide range of applications.
Ramki Sankaranarayanan, founder, global CEO PFT stated, “We are ushering in a new era with an AI-first approach across the content value chain. Over the years, our customers have experienced notable productivity enhancements from our AI models and applications, and our Gen AI initiatives are poised to transform their content to meet new revenue opportunities. Partnering with DNEG strengthens our capacity to innovate rapidly and deliver exceptional value to our clients.”
DNEG chairman, CEO Namit Malhotra said, “Investment in our proprietary technology underpins everything that we do in the DNEG Group and ensures our continued and future success. The acquisition of PFT and its market-leading technology and services adds another string to our bow, bringing further opportunities and advantages to our global partners and clients, and extending our capabilities across the entire content lifecycle. Our technology vision begins at home, and just like our new Brahma AI division, PFT’s CLEAR® and CLEAR AI® will also support our own teams as we invest in, develop, produce, shoot, finish, and deliver the highest-quality content across the world, including in our newly announced Abu Dhabi hub.”
The DNEG Group consists of:
DNEG – It offers visual effects, animation, and associated creative services to Hollywood and global visual entertainment creators. DNEG has worked on movies and animations, such as Dune, Oppenheimer, Interstellar, Tenet and Blade Runner 2049, as well as the Harry Potter, James Bond, Fast and Furious, Mission: Impossible and Marvel Cinematic Universe franchises.
Brahma – developing the AI-powered, photo-real CGI creator.
Prime Focus Studios – content and IP investment and development across live-action, animation, and gaming. Prime Focus is currently co-producing films, including ‘Animal Friends’, ‘Ramayana’ and ‘The Angry Birds Movie 3’.
Prime Focus Technologies- It is a provider of AI technology and media services powered by the Cloud.
