DNEG completes acquisition of Prime Focus Technologies

In April 2023, DNEG announced that it plans to acquire PFT, a leading provider of AI-powered cloud technology for media and entertainment.

DNEG said the acquisition will enhance its capabilities and service offerings as the company continues to expand into media technology and distribution services.

The acquisition will expand the group’s technology offering to include the CLEAR media automation and workflow software suite and the CLEAR AI Gen AI platform.

CLEAR and CLEAR AI offer streaming platforms, studios, broadcasters and brands solutions for content management, video collaboration and content production and distribution automation.

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Earlier this month, DNEG Group raised a $200 million investment from UAE-based United Al Saqer Group (UASG).

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.”

Ramki Sankaranarayanan, Founder and Global CEO, PFT, 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.”

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