MUMBAI: Prime Focus Ltd has acquired two US based firms namely Post Logic Studios and Frantic Films VFX for $ 43 million.
Post Logic Studios has offices in Hollywood and New York, whereas and Frantic Films has offices in Los Angeles, Winnipeg and Vancouver.
These acquisitions will add to Prime Focus’ global footprint, which currently entails six visual effects and post-production facilities across India and four facilities in London. The acquisition will also add rights over 55,000 square feet of prime real estate in the heart of Hollywood, and a talent pool of 200 new staff members.
The acquisition will give the Prime Focus Group access to the R&D division of Frantic Films, which develops and markets visual effects software solutions. Frantic Films has worked on top Hollywood films including Fantastic Four: The Rise of the Silver Surfer, Grindhouse, Superman Returns, X-Men 3, Poseidon, Mr. Miagorium’s Wonder Emporium and Journey 3-D.
Prime Focus Group plans to continue operations of both Post Logic Studios and Frantic Films as independent facilities, providing both companies access to a talent pool of over 400 visual effects artists worldwide.
“We are extremely delighted about investing in the incredible talent pool and technology at Frantic Films and Post Logic. The acquisitions strategically complete the Prime Focus Groupâ€™s global proposition to ensure the best creative and technical services for content companies worldwide. By virtue of their fantastic reputations and top quality services, Post Logic and Frantic Films will facilitate a gateway for Prime Focus Group into all of the major studios. Both companies also have strong R&D divisions that have developed proprietary technologies and processes for film color management, visual effects and pipeline collaboration which will benefit the organization as a whole,” said Prime Focus managing director Namit Mahlotra.
“Having just launched our Image Science Division and refining our 4K DI workflow, this acquisition comes at a very exciting time in Post Logicâ€™s history. We look forward to being part of the successful Prime Focus organization and to taking advantage of creative synergies across continents and across disciplines to deliver a new model for the future of digital post production,” said Post Logic Studios CEO Larry Birstock.
“The acquisition by Prime Focus will allow us to expand the Frantic Films presence in North America with additional staff and resources to take on even larger projects than ever before. We also anticipate working closely with Prime Focus companies across North America, India and the UK to broaden our pipelines internationally, and offer our film VFX clients an expanded slate of post services,” said Frantic Films co-founder Chris Bond.
Frantic Films also operates live-action production/post-production facilities and a television commercial division that will not be a part of this acquisition, and will continue to operate independently out of Winnipeg and Toronto, Canada.
Prime Focus mulls acquisition of two US companies