VFX giant DNEG has acquired a raft of production and post-production services assets, including an Indian film and TV production studio complex, from its parent company Prime Focus Limited.
DNEG said the acquisition allows it to offer its global clients access to eight Hollywood-designed soundstages from PF Studios in Film City in Mumbai, as well as a full suite of production and post services including digital intermediate, camera equipment rental, sound and picture editing, IMAX and 3D mastering, and associated support and technology services.
The acquisition has added 240 more staff members to DNEG, pushing its global headcount to more than 10,000 employees.
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Explaining the acquisition, DNEG chairman and CEO Namit Malhotra said: “Having achieved a distinctive leadership position across visual effects and animation, with the capabilities and scale to be a preferred partner to our clients, DNEG’s next logical step is to extend our filmmaker-focused services into the production ecosystem. Adding these new services to DNEG’s portfolio allows us to bring India’s proud 100-year history of film heritage and its industry talent to the global market. It also presents our clients with the benefits of an integrated solution across the entire production chain, unlocking greater efficiencies and savings, with the reassurance of working with a trusted filmmaking partner.”
As part of the transaction, DNEG acquired the following assets from Prime Focus: Prime Focus Studios (PF Studios), Digital Intermediate, Equipment Rental Services and its advertising post-production business.
PF Studios is spread across a 200,000 square foot complex in seven acres of land in Mumbai’s Film City, and features eight sync soundstages, each with a clear internal height of at least 50 feet.
Designed by Wylie Carter Architects in Los Angeles, the studios also feature a Film Processing Lab, Film Image Enhancement facilities, production offices, makeup rooms, workshop areas, cafeteria facilities, and a choice of backlot locations within a 520-acre property. In addition to Bollywood blockbusters such as Brahmastra, War, and Padmaavat shooting at the studios, it also plays host to many of India’s biggest TV shows, including Indian Idol and Shark Tank.