To create world's largest Hollywood VFX business
Prime Focus announced the merger of its creative services subsidiary Prime Focus World (PFW) and Double Negative (DNeg), one of the largest visual effects services providers to the global film industry. The agreement will create what is indisputably the world's largest independent VFX, stereo conversion and animation company serving the Hollywood film industry.Both PFW and DNeg have a power packed summer line up. PFW kick started the season with its work on Maleficent and Edge of Tomorrow. It is also the lead conversion house and a VFX provider on Transformers: Age of Extinction and the exclusive stereo VFX partner on Sin City: A Dame To Kill For. PFW is involved in almost half of all releases from the mainstream studios this summer. DNeg has delivered stunning visual effects for high-profile blockbusters such as Godzilla, Christopher Nolan's Interstellar, Jupiter Ascending from Andy and Lana Wachowski, Ridley Scott's Exodus: Gods and Kings, and Brett Ratner's Hercules, among others.
For Prime Focus, the deal offers a clear path to growth where revenues would have more than doubled. With a combined order book of US$ 150 million (Rs 900 crore), the company will be in a strong position to sustain growth, generate free cash flows, pare down debt by 30-40% over the next 4-6 quarters and offer significant value to its stakeholders.
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