Prime Focus Limited
Prime Focus (BSE code: 532748) (NSE code: PFOCUS),(ISIN:INE367G01038) is a media and entertainment industry services provider that employs over 10,300 people in 11 cities across 3 continents. The group sells end-to-end creative and technical services including visual effects, stereo 3D conversion, video/audio post-production, digital content management and distribution, Digital Intermediate, versioning and adaptation, and equipment rental. Its customers are the Film, Broadcast, Advertising and Media industries.
Prime Focus Limited has two subsidiaries: Prime Focus World and Prime Focus Technologies.
Prime Focus World
Prime Focus World (PFW), a subsidiary of Prime Focus Limited, provides 2D to 3D conversion, visual effects and animation services to media and entertainment companies. PFW has global operations with a presence in key centers of creative content production – Los Angeles, New York, London, Vancouver and Mumbai.
Creative Services
- Visual Effects
- Stereo 3D Conversion
- Animation
Other Services
- Post Production
- Sound
- Digital Intermediate (DI)
- Camera Equipment Rental
Prime Focus Technologies (PFT)
Prime Focus Technologies (PFT) is the technology arm of Prime Focus. PFT has global operations with operations in Los Angeles, New York, London, Vancouver, Johannesburg, Mumbai, Bangalore, Delhi, Hyderabad and Kolkata.
Technology Solutions and Services
- CLEAR media ERP platform
- Cloud Technology Services
- Digital Content Services
- Content Monetization Services
History
In 1997, Prime Focus Limited was established with 4 core team members in a garage in Mumbai, India. Prime Focus provided India's first high-end finishing system in 1997. It also launched the first film scanning and recording system in 2001.
Prime Focus introduced India to the Spirit Datacine in 2003 and the Motion Control Rig in 2004. In 2006 Prime Focus became a public limited company listed on the Bombay Stock Exchange and National Stock Exchange of India. The proceeds of the successful Initial Public Offering (IPO) were used to expand Prime Focus’ global presence.
In 2006 Prime Focus entered the UK market with the acquisition of a majority stake in AIM listed VTR Plc followed by acquiring and consolidating 3 more companies. In 2007, Prime Focus expanded its reach into North America as Prime Focus World with the acquisition and integration of Post Logic Studios and Frantic Films. These acquisitions allowed Prime Focus World to offer [...] edge services and technology in Los Angeles, New York and Vancouver.
In 2007 Prime Focus World launched View-D, its proprietary 2D to stereo 3D conversion process. In 2008 Prime Focus launched technology business subsidiary Prime Focus Technologies. In 2009 PFT launched CLEAR, the world’s first hybrid cloud-enabled media ERP platform. In 2010 Prime Focus World became the first company to convert a full length feature film in to 3D. That year PFT’s CLEAR won TVB Europe Editor’s Choice ‘Best of IBC’ Award.
In 2011 PFW’s View-D technology was selected by George Lucas’ ILM for the 3D conversion of Star Wars. Star Wars: Episode 1 – The Phantom Menace 3D has taken over US$102 million globally at the box office since its 3D release.
Outlook Business, India’s premier business magazine ranked Prime Focus 28th in its ‘40 Fastest Growing Indian Companies’ feature.
PFW entered animation in 2013 by signing a multi-million deal with a leading toy manufacturer to develop an animated series for a children’s television network.
In 2012 Standard Chartered Private Equity invested US$35 million to subscribe to equity and another US$35 million to subscribe to NCDs issued by Prime Focus Limited. Using the funds, Prime Focus replays FCCBs worth US$79 million in September.
In March 2013 PFW again raised US$10 MN from AID Partner Capital Group, a Hong Kong-based PE firm specializing in investments in the Media and Entertainment space. In a related development Prime Focus announced the setting up of operations in China with an office in Beijing through a joint venture with AID Partner Capital and a local partner.
In June 2013 PFW received a $53 million equity investment from Macquarie Capital, the advisory, capital raising and principal investing arm of Macquarie Group (ASX: MQG; ADR: MQBKY). Macquarie transaction meant an enterprise valuation of $300 million for Prime Focus World.
In October, 2013 PFT launched True North, the world’s largest Digital Media Services Cloud.
The year also saw PFT and CLEAR winning a number of awards: Aegis Graham Bell Awards for Innovation, EMC Transformers Award and CIO Choice Awards.
In July 2014, PFL joined hands with Reliance MediaWorks to create the world's largest media services power house.
Acquisitions
Company Acquired |
Country |
Date |
|---|---|---|
VTR PLC |
London, UK |
May 2006 |
Clear post production |
London, UK |
May 2006 |
Post Logic Films |
United States |
2007 |
Frantic Films VFX |
Canada |
November 2007 |
Machine FX |
London, UK |
January 2008 |
Clarke Associates |
London, UK |
January 2008 |
Operations
Prime Focus has operations in Los Angeles, New York, Vancouver, London, Johannesburg, Beijing, Mumbai, Bangalore, Chandigarh, Delhi, Kolkata and Hyderabad.
Awards and Recognition
2013
- Prime Focus World was awarded for Outstanding 2D to 3D Conversion in Theatrical Motion Picture’ category for its spectacular work on Gravity at the International 3D & Advanced Imaging Society’s Creative Arts Awards
- Audiences worldwide and critics alike have praised Gravity 3D;
- CLEAR Media ERP Platform won the Aegis Graham Bell Award for Innovation in Cloud-based Solutions.
- CLEAR was recognized as CIO CHOICE 2013 in ‘Content Management’ category by the Centre of Recognition & Excellence with KPMG as Knowledge Partner.
- Broadcast VFX team in London won the Emmy® Award in ‘Outstanding Graphic Design & Art Direction’ category for our work on History Channel’s series ‘World War II from Space’.
- PFT won the EMC Transformers Award for revolutionizing the way media and entertainment industry works with CLEAR.
- Prime Focus was bestowed Maharashtra Chamber of Commerce, Industry & Agriculture (MACCIA) & IBN- Lokmat Awards in the Entertainment category.
- 'White House Down' won Best VFX in International Feature Film category at 24 FPS Annual International Animation Awards 2013.
- Total Recall won Asia Image Apollo Awards 2013 for Best VFX.
Key Leadership
- Naresh Malhotra, Chairman, Prime Focus Limited
- Namit Malhotra, Founder Prime Focus; Chairman and CEO, PFW
- Ramki Sankaranarayanan, CEO, Prime Focus Limited; Founder, President and CEO, PFT
- Merzin Tavaria, Chief Creative Director and Co-founder, Prime Focus
- Prakash Kurup, Creative Director and Co-founder, Prime Focus
- Huzefa Lokhandwala, Creative Director and Co-founder, Prime Focus
- Ganesh Sankaran, Co-founder and COO, PFT
- Patrick Macdonald-King, President, PFT Inc.
- Chris Chen, CTO Americas, PFT
- Anshul Doshi, EVP and Global Head of Production, PFW
- Shailendra Jindal, EVP, Finance and Chief Accounting Officer
- Vikas Rathee, Group COO, Prime Focus
- Massoud Entekhabi, COO and CFO, PFW
- Rowan Bray, Managing Director, Broadcast and Independent Film, Prime Focus UK