LOS ANGELES — DNEG, a number one visible leisure providers firm, has entered right into a memorandum of understanding to accumulate Prime Focus Applied sciences (PFT), a frontrunner in cloud-based software program and synthetic intelligence (AI) know-how for the media and leisure (M&E) {industry}. PFT, a subsidiary of DNEG’s mum or dad firm, Prime Focus Restricted, has places of work situated throughout North America, the UK and India.
Upon conclusion of the proposed transaction, DNEG will add the media workflow and automation software program suite, CLEAR®, and purpose-built AI platform, CLEAR AI®, which provide studios, broadcasters, manufacturers, and repair suppliers transformational options to assist handle content material, video collaboration and automation within the content material manufacturing and distribution course of.
Buying the software-as-a-service enterprise of PFT will advance DNEG’s standing as an end-to-end options supplier, enabling its growth into media tech and distribution providers, together with success, localization and advertising and marketing, and permitting DNEG’s worldwide M&E shopper base to comprehend the monetary, operational, and strategic advantages of managing the whole lifecycle of their content material with one trusted companion.
The proposed transaction is inter alia topic to customary due diligence, finalization of the acquisition construction and valuation of the enterprise, receipt of requisite company approvals (together with from Prime Focus Restricted, mum or dad firm of DNEG and PFT) and lender consents, and execution of the definitive agreements.
“DNEG is the leisure {industry}’s go-to premium turnkey options supplier due to natural market share growth and key, strategic acquisitions, together with right this moment’s MOU with PFT,” stated Namit Malhotra, DNEG Chairman and CEO. “In live performance with DNEG’s offers for a number of strains of manufacturing and post-production providers from Prime Focus Restricted earlier this yr, and our newest studio opening in Sydney, DNEG is really a worldwide, 24/7 drive within the enterprise. DNEG continues to supply unmatched high quality, innovation, and end-to-end capabilities to satisfy the visible results, animation, pre- and post-production, distribution success providers, and media asset administration wants of all purchasers across the globe.”
“Prime Focus Applied sciences is thrilled to be becoming a member of DNEG and changing into a part of the corporate’s world options providing for a formidable and rising array of purchasers and operations,” added Ramki Sankaranarayanan, Founder and CEO of Prime Focus Applied sciences. “PFT is dedicated to providing clients digital transformation options that assist automate the content material provide chain. This transaction will likely be a constructive step ahead for each our present clients and for potential purchasers. The transaction with DNEG will improve PFT’s monetary power and stability and assist in constructing longer-term relationships with our purchasers. DNEG offers PFT a halo of credibility and success, with its sturdy studio partnerships and relationships that we will leverage into development alternatives sooner or later.”
How PFT’s Enterprise Will Match into DNEG’s Service Choices
- PFT’s enterprise contains the mental property of the corporate, and its 1,700 workers (together with roughly 300 software program engineers) situated throughout North America, the UK and India.
- CLEAR is a cloud-native media asset administration (MAM) platform which automates the content material provide chain, together with managing localization and success.
- CLEAR AI is an AI and machine studying platform constructed solely for fixing particular media and leisure challenges in content material administration, content material creation and monetization.
- Acquisition of the aforesaid enterprise will enable DNEG to increase its shopper service providing, to offer an industry-leading, end-to-end and built-in set of providers from pre-production to distribution success.
- Acquisition will present a spread of advantages to DNEG’s purchasers:
- Operationally – will unlock efficiencies of managing all content material by one platform with one trusted companion
- Financially – will allow price benefits of bundling inventive, know-how, and success providers with one companion throughout the lifecycle of the content material
- Strategically – will allow content material creators to unlock further worth of their content material by localization and new monetization alternatives
- Shoppers related to PFT’s enterprise embody main media and leisure corporations like Amazon, BCCI / IPL, Channel 4, Lionsgate, Netflix, Paramount, PBS, Sinclair Broadcast Community, Star TV / Disney, Tata Play and Warner Media Discovery.
Malhotra continued, “Bringing PFT’s enterprise below the DNEG umbrella is the subsequent logical step for our firm to additional develop its experience throughout the content material lifecycle, by post-production, content material administration and distribution. Consequently, DNEG has secured one other avenue for future development and a capability to innovate sooner and supply extra worth to purchasers. Collectively, we are going to understand adjoining development alternatives and extra deeply align DNEG with our buyer base for long term collaboration and extra transformative tasks sooner or later.”
Supply: DNEG
Dan Sarto is Writer and Editor-in-Chief of Animation World Community.
