DNEG Group completes acquisition of Prime Focus Technologies

DNEG Group has completed the acquisition of Prime Focus Technologies.

The terms of the deal were not disclosed. PFT was a subsidiary of DNEG’s parent company, Prime Focus Limited. It has offices in North America, the United Kingdom and India.

Acquisition, which was previously announced with the issuance of a memorandum of understanding last year on April 13, 2023.enhances DNEG Group’s technological capabilities with PFT, CLEAR and CLEAR AI, a multi-modal Gen AI platform powered by patented “Machine Wisdom” technologies. Designed specifically for the M&E industry, CLEAR and CLEAR AI offer streaming platforms, studios, broadcasters and brands transformational solutions that help manage content, video collaboration and automation across content production and distribution.

The acquisition of software-as-a-service company PFT strengthens DNEG Group’s position as a full-service solutions provider and will help it expand its business into media technologies and distribution services, including order fulfillment, localization and marketing.

The completion of the acquisition also follows last week’s announcement of a $200 million investment in DNEG Group by leading Abu Dhabi investor United Al Saqer Group. The investment accelerates DNEG Group’s innovation and diversification strategy, including the activation of a new division, Brahma, which is developing an end-to-end AI-powered photorealistic CGI creator that will democratize the creation of photorealistic content across a wide range of applications.

“We are entering a new era with an AI-first approach across the content value chain,” said Ramki Sankaranarayanan, Founder and Global CEO of PFT. “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.”

“Investing in our proprietary technology underpins everything we do at DNEG Group and ensures our continued and future success,” added DNEG Chairman and CEO Namit Malhotra. “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. Our technology vision starts at home, and like our new Brahma AI division, PFT’s CLEAR and CLEAR AI will also support our own teams as we invest, develop, produce, shoot, finalize and deliver the highest quality content around the world, including at our newly announced hub in Abu Dhabi.”

Following the completion of the transaction, the DNEG Group describes its activities as follows:

DNEG – Academy Award-winning visual effects, animation and related creative services for Hollywood and global visual entertainment creators. DNEG is known for its work on a number of high-profile films and animations, including Dune, Oppenheimer, Interstellar, Tenet and Blade Runner 2049, as well as Harry Potter, James Bond, Fast and Furious, Mission: Impossible and the Marvel Cinematic Universe.
Brahma – the industry’s leading AI-based photorealistic CGI image creation program.
Prime Focus Studios – Content and IP investment and development across live-action, animated and games. Prime Focus currently co-produces a slate of high-profile feature films including Animal Friends, Indian epic Ramayana and The Angry Birds Movie 3.
Prime Focus Technologies, a leading provider of AI technologies and cloud-based media services.