DNEG has completed its acquisition of Prime Focus Technologies, after a memorandum of understanding released in April last year.
Both companies are owned by parent company Prime Focus, and this sees its VFX and cloud technology brands consolidate under the former’s name, DNEG. Prime Focus Technologies’ products, such as media workflow and automation software suite, Clear, and Clear AI, a multi-modal Gen AI platform powered by patented ‘Machine Wisdom’ technologies, purpose built for the M&E industry, will be added to DNEG’s roster.
This will aid DNEG’s planned expansion into media tech and distribution services, including fulfillment, localization, and marketing, and adds offices in Europe, North America, and India.
This acquisition comes after DNEG announced a $200m investment from United Al Saqer Group earlier this month. That invesement sees it launch a new technology division, Brahma, which is developing an AI-powered, photo-real CGI creator.
Ramki Sankaranarayanan, founder and global CEO at 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 notable productivity enhancements from our AI models and applications, and our Gen AI initiatives are poised to transform their content to meet new revenue opportunities. Partnering with DNEG strengthens our capacity to innovate rapidly and deliver exceptional value to our clients.”
DNEG chairman and CEO Namit Malhotra said, “Investment in our proprietary technology underpins everything that we do in the 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 advantages to our global partners and clients, and extending our capabilities across the entire content lifecycle. Our technology vision begins at home, and just like our new Brahma AI division, PFT’s Clear and Clear AI will also support our own teams as we invest in, develop, produce, shoot, finish, and deliver the highest-quality content across the world, including in our newly announced Abu Dhabi hub.”