DNEG Enters into MOU to Acquire Prime Focus Technologies’ Business
Summary
PFT, a subsidiary of DNEG’s parent company, Prime Focus Limited, has offices located across North America, the United Kingdom and India. The proposed transaction is inter alia subject to customary due diligence, finalization of the acquisition structure and valuation of the business, receipt of requisite corporate approvals (including from Prime Focus Limited, parent company of DNEG and PFT) and lender consents, and execution of the definitive agreements. DNEG continues to offer unmatched quality, innovation and end-to-end capabilities to meet the visual effects, animation, pre- and post-production, distribution fulfillment services, and media asset management needs of all clients around the globe.” " Prime Focus Technologies is thrilled to be joining DNEG and becoming part of the company’s global solutions offering for an impressive and growing array of clients and operations,” added Ramki Sankaranarayanan, Founder and CEO of Prime Focus Technologies. Current and upcoming DNEG projects on behalf of its Hollywood and global studio and production company partners include Fast X (May 2023), The Little Mermaid (May 2023), The Flash (June 2023), Oppenheimer (July 2023), Coyote Vs Acme (July 2023), Meg 2: The Trench (August 2023), Haunted Mansion (August 2023), Aquaman and the Lost Kingdom (December 2023), Nimona (2023), Borderlands (2023), American Born Chinese (2023), Garfield (February 2024), Mickey 17 (March 2024), and Furiosa (2024). It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the Cloud that help them lower their Total Cost of Operations by automating their content supply chain.
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