DNEG Group completes acquisition of AI-powered media technology company Prime Focus Technologies

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Mumbai: DNEG Group, a visual entertainment technology and services provider, has announced that it has completed the acquisition of Prime Focus Technologies (PFT), a developer of AI-powered technology solutions for the media and entertainment (M&E) industry. Previously a subsidiary of the group's parent company Prime Focus, PFT has offices across North America, Europe and India.

This strategic acquisition, previously announced with the issuance of a Memorandum of Understanding on 13 April 2023, will strengthen the Group's technological capabilities with Clear, PFT's media workflow and automation software suite, and Clear AI, a multimodal Gen AI platform with patented “Machine Wisdom” technology built specifically for the M&E industry, providing streaming platforms, studios, broadcasters and brands with transformative solutions helping them manage content, video collaboration and automation in their content production and distribution processes.

The acquisition of PFT's SaaS business strengthens DNEG Group's position as an end-to-end solutions provider, enabling it to expand into media technology and distribution services including fulfilment, localisation and marketing, enabling the Group's global M&E client base to realise financial, operational and strategic benefits by managing the entire content lifecycle with one trusted partner.

The completion of the acquisition follows last week's announcement by United Al Saqer Group, a leading Abu Dhabi-based investment firm, to invest $200 million in DNEG Group. The investment accelerates DNEG Group's innovation and diversification strategy, including the launch of a new division, Brahma, which is developing a comprehensive AI-powered photoreal CGI creator that democratizes photoreal content creation for a wide range of applications.

Ramki Sankaranarayanan, Founder and 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 remarkable productivity gains with our AI models and applications, and our Gen AI initiative is poised to transform our customers' content to address new revenue opportunities. Our partnership with DNEG will strengthen our ability to innovate quickly and deliver exceptional value to our customers.”.”

Namit Malhotra, Chairman and CEO of DNEG Said, “Fundamental to everything DNEG Group does is our investment in our proprietary technology. The acquisition of PFT and its market-leading technology and services further strengthens our strengths, bringing additional opportunities and benefits to our partners and clients around the world and expanding our capabilities across the entire content lifecycle. Our technology vision starts at home and, as with our new Brahma AI division, PFT's CLEAR® and CLEAR AI® will support our teams as they invest in, develop, produce, shoot, finish and distribute the highest quality content around the world, including from our newly announced Abu Dhabi hub..”

The DNEG Group consists of:

DNEG – provides visual effects, animation and related creative services to visual entertainment creators in Hollywood and around the world. DNEG has worked on films and animations such as Dune, Oppenheimer, Interstellar, Tenet and Blade Runner 2049, as well as the Harry Potter, James Bond, Fast & Furious, Mission: Impossible and Marvel Cinematic Universe franchises.

Brahma – Developing an AI-powered photorealistic CGI creator.

Prime Focus Studios – Investing and developing content and IP across live action, animation and games. Prime Focus is currently co-producing films such as “Animal Friends,” “Ramayana” and “The Angry Birds Movie 3.”

Prime Focus Technologies – A cloud-powered AI technology and media services provider.



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