The merger will result in the extension of prime focus’ infrastructure across India, UK and North America, including a total of one million SQ. FT. of facilities; 30% stake in hollywood VFX house digital domain and
100% ownership in la-based lowry digital.
Reliance Group, one of India’s leading business houses, and Prime Focus Ltd (PFL), a global media and entertainment industry services leader, have announced the merger of the global film and media services business of Reliance MediaWorks (RMW) with Prime Focus Ltd.
The combination of RMW, PFL and Academy Award-winning VFX company Double Negative, led by Matt Holben and Alex Hope, creates the world’s largest and most integrated media services group with over 5,500 professionals across 20 locations offering visual effects, stereo 3D conversion, animation, and cloud-based digital media solutions that transcend the film, advertising and television industries.
The combination brings instant benefits to global clients, with new levels of creativity, technology innovation, truly integrated Digital Media Services, unmatched scale, financial stability and sustainability. The body of work handled by the new powerhouse includes worldwide blockbusters and critically acclaimed films, such as The Dark Knight Trilogy, Transformers, Inception, Gravity, Harry Potter and Avatar, amongst many others.
The combined group will also have the world’s first hybrid cloud-enabled Media ERP platform. This unique platform virtualises the content supply chain and helps broadcasters, studios, brands, sports and digital businesses manage their business of content, by driving creative enablement, enhancing ecosystem efficiencies and sustainability, reducing costs and realizing new monetisation opportunities.
Namit Malhotra will be the executive chairman and global CEO of Prime Focus Ltd. “We are hugely excited about the transformational growth opportunity created by the powerful combination of the global film and media services business of Reliance Media- Works and Prime Focus,” said Amitabh Jhunjhunwala, group managing director, Reliance Group in a press statement.
“This is a very exciting time in the life of Prime Focus,” said Namit Malhotra, founder, Prime Focus and executive chairman and group CEO, Prime Focus Group. “From being able to partner with the world’s finest VFX provider Double Negative to having the Reliance Group come on board to help mobilise our strategy in building the bridge between the West and the East.”
The combination will result in the immediate extension of Prime Focus’ infrastructure across India, UK and North America, including a total of one million sq. ft. of studio facilities; 30 per cent stake in renowned Hollywood VFX house Digital Domain and 100 per cent ownership of Los Angeles-based digital film restoration firm Lowry Digital. EY India was the exclusive Advisor to Reliance MediaWorks for the transaction, and Centrum Capital was the exclusive Advisor to Prime Focus.