Press Release
Prime Focus Technologies (PFT) secures investment from Ambit Pragma Private Equity
Investment validates the strong track record of profitable growth, healthy order book backed technology business and significant global growth potential on the back of PFT’s flagship CLEARTM Media ERP Suite.
Mumbai, India, 29 August, 2016: Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus, the world’s largest media services powerhouse, has secured the first round of funding from Ambit Pragma, a growth capital private equity (PE) fund.
Ambit Pragma generally invests as the first institutional investor in companies and supports management teams in accelerating growth, leveraging its teams’ deep operating experience. Transformative businesses in the Media & Entertainment (M&E) industry, besides three other industry verticals are of particular interest to the fund.
PFT proposes to use the investment for intensifying development efforts of the SaaS products including CLEAR Media ERP and gaining deeper penetration and growth in strategic markets such as North America and EMEA with increased Sales and Marketing efforts.
PFT’s flagship product CLEAR Media ERP is targeted at M&E companies who increasingly adopt technology to tap the digital consumer landscape while enhancing efficiencies and lowering Total Cost of Ownership (TCO).
“Media ERP adoption in the global M&E industry has been growing steadily. With flat revenues and shrinking margins in traditional media, content enterprises especially broadcasters and studios have a tough time finding resources to invest in new monetization opportunities. M&E companies have to completely re-think technology investments and re-jig their business model to survive in the new digital reality”, said Ramki Sankaranarayanan, Founder and CEO, Prime Focus Technologies. “The investment by Ambit Pragma is tremendous market validation of the business opportunity we serve and offers us growth capital to execute on our strategy for global leadership in the Media ERP space. We are delighted to have a like-minded partner in Ambit Pragma who appreciates the realities and opportunities within the M&E industry”.
“PFT is a global pioneer addressing the challenges content enterprises are facing in this hyper digital market through their cutting-edge technology. The architectural road map of the product, its multiple use cases and their management’s thought leadership, represent a compelling opportunity for us to make the investment.” said Rajeev Agrawal, CEO, Ambit Pragma.
CLEAR is the world's first and most proven Cloud-based Media ERP Suite that virtualizes the content supply chain and builds a connected enterprise for M&E companies PFT works with more than 300 clients in India and is the chosen technology partner for more than 100 clients globally including various leading broadcasters, studios, brands, sports and digital organizations.
PFT’s award winning CLEAR Media ERP suite and Cloud Media Services have been successfully deployed for the last eight years in global M&E companies such as 21st Century Fox-owned Star India, Novi Digital – Hotstar, Miramax, Disney, Warner Bros., Global Eagle Entertainment, Cricket Australia, CBS Television Studios, 20th Century Fox Television Studios, FX Networks, Crown Media Holdings, Legendary Pictures, Starz Media, Lionsgate, A+E Networks, HBO, Mnet, CNBC Africa, SABC, IFC Films, HOOQ, Sony Music, Voot, Hearst Television, Showtime, BCCI, Indian Premier League and The Associated Press, among others.
About Prime Focus Limited
Prime Focus Limited (PFL), the world’s largest integrated media services powerhouse employs over 7,000 professionals in 14 cities across 4 continents and 7 time zones. We provide end-to-end creative services (visual effects, stereo 3D conversion and animation), technology products & services (Media ERP Suite and Cloud-enabled media services), production services (equipment rental) and post production services (Digital Intermediate and picture post) to Studios, Broadcast and Advertising industries.
Prime Focus is behind path breaking technologies like CLEAR™ (Hybrid Cloud technology enabled Media ERP Suite), Primetime Emmy® award-winning DAX Digital Dailies® and View-D™ (stereoscopic 2D to 3D conversion process). Leveraging our Global Digital Pipeline and pioneering WorldSourcing® delivery model we partner content creators at every stage of the process ensuring creative enablement, work flow efficiencies and cost optimization.
In mid-2014 Prime Focus Technologies acquired DAX, a leading provider of cloud-based production workflow and media asset management applications; Prime Focus World merged with Double Negative, one of the world’s foremost providers of visual effects; and Reliance MediaWorks merged their global film and media services business with Prime Focus Limited.
Listed on the BSE and NSE of India, Prime Focus has operations in Bangalore, Cape Town, Chandigarh, Delhi, Goa, Hyderabad, Johannesburg, Kolkata, London, Los Angeles, Mumbai, New York, Toronto and Vancouver.
For more details: www.primefocus.com
For any investor relations query please contact:
| Alok Gupta Prime Focus Limited Phone: +91 8879360082 Email: alok.gupta@primefocus.com | Nisha Kakran/ Seema Shukla Four-S Services Pvt Ltd Phone: +91 7718811182 / +91 124 4251441 Email: nisha.kakran@four-s.com |
Note: Certain statements made in the document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like government actions, economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Prime Focus Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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