DNEG is to acquire Prime Focus Technologies, a leading provider of AI-powered media and entertainment cloud technology.
PFT, a subsidiary of DNEG’s parent company, Prime Focus Limited, has offices in North America, the UK and India.
The deal will see DNEG add to its offer the media workflow and automation software suite, CLEAR, and AI platform CLEAR AI.
DNEG said that acquiring the software-as-a-service business of PFT “will advance our position as an end-to-end solutions provider, further allowing our clients to realize the financial, operational and strategic benefits of managing the entire lifecycle of their content with one trusted partner”
DNEG chairman and CEO Namit Malhotra said: “Bringing PFT’s business under the DNEG umbrella is the next logical step for our company to further develop its expertise across the content lifecycle, through post-production, content management and distribution. Consequently, DNEG has secured another avenue for future growth and an ability to innovate faster and provide more value to clients.”
PFT’s business includes the intellectual property of the company and its 1,700 employees (including approximately 300 software engineers) located across North America, the United Kingdom, and India.
CLEAR is a cloud-native media asset management (MAM) platform which automates the content supply chain, including managing localisation and fulfilment.
CLEAR AI is an AI and machine learning platform built for solving specific media and entertainment challenges in content management, content creation and monetization.
Clients associated with PFT’s business include Amazon, Channel 4, Lionsgate, Netflix, Paramount, PBS and Warner Media Discovery.
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