DNEG Group completes acquisition of Prime Focus Technologies – DNEG

The DNEG Group is pleased to share that it has completed the acquisition of Prime Focus Technologies (PFT).

Following the issue of a Memorandum of Understanding (MOU) in April 2023, the acquisition of the AI-powered media tech company is now complete.

This development will boost the DNEG Group’s capabilities and service offerings as it continues to expand into media technology and distribution services, adding PFT’s media workflow and automation software suite, CLEAR^®, and CLEAR AI^®, a multi-modal Gen AI platform purpose built for the M&E industry, to the Group’s technology offering. CLEAR^® and CLEAR AI^® offer streaming platforms, studios, broadcasters, and brands solutions for managing content, video collaboration and automation in the content production and distribution process.

Acquiring PFT’s software-as-a-service business advances the DNEG Group’s status as an end-to-end solutions provider, offering the Group’s worldwide Media and Entertainment client-base the financial, operational, and strategic benefits of managing the entire lifecycle of their content with one trusted partner.

On the acquisition, 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.”

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.”

Learn more in this article from Televisual.