Prime Focus (PFL), a global media and entertainment industry services leader, in accordance with the approval of board of directors and the shareholders, has executed the business transfer agreement (BTA) to sell, transfer, and/or otherwise dispose of its ‘Backend Business’, on a going concern on slump sale basis to Prime Focus World Creative Services a company incorporated in India, which is a direct subsidiary of PFW, a company incorporated and operating under the laws of Netherlands and an indirect subsidiary of the company, for a total net consideration-of $38 million.
Besides, Prime Focus World (PFW), a wholly owned subsidiary of the company, has fulfilled all the customary closing conditions to close the transaction in respect of merging its Hollywood business with Double Negative (Dneg). Dneg is one of the largest visual effects services providers to the global film industry.
Prime Focus is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market. The group offers a genuine end-to-end solution from pre-production to final delivery including visual effects, 2D to 3D conversion, video and audio post production, equipment hire, multi-platform content operations solutions and digital distribution.
| Company Name | CMP |
|---|---|
| Syngene Internation. | 458.00 |
| Indegene | 529.65 |
| CMS Info Systems | 290.00 |
| JITF Infralogistics | 307.90 |
| Sagility | 44.18 |
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