DNEG Group completes acquisition of Prime Focus Technologies

DNEG Group has completed the acquisition of Prime Focus Technologies (PFT), a developer of AI-based technology solutions for the M&E industry. PFT, previously a subsidiary of the Group’s parent company Prime Focus Limited, has offices in North America, Europe and India.

DNEG believes that the strategic acquisition, previously announced in a Memorandum of Understanding dated April 13, 2023, enhances the Group’s technological capabilities with PFT’s media automation and workflow software suite, Clear, and Clear AI, Gen AI’s multimodal platform based on its patented “Machine Wisdom” technologies, specifically designed for the M&E industry. Clear and clear AI We offer streaming platforms, studios, broadcasters and brands breakthrough solutions that facilitate content management, video collaboration and content production and distribution automation.

DNEG President and CEO Namit Malhotra said: “Investment in our proprietary technology underpins everything we do at 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 benefits to our global partners and customers and expanding our capabilities across the content lifecycle.”

PFT Founder and Global CEO Ramki Sankaranarayanan said, “We are entering a new era with an AI-first approach across the content value chain. Over the years, our customers have experienced significant productivity improvements with our AI models and applications, and our Gen AI initiatives are poised to transform their content to meet new revenue opportunities. The partnership with DNEG strengthens our ability to innovate rapidly and deliver exceptional value to our customers.”

The completion of the acquisition follows last week’s announcement that leading Abu Dhabi investor United Al Saqer Group had invested $200 million in DNEG.