November 28, 2007

Prime Focus Group Acquires Post Logic Studios and Frantic Films VFX

Los Angeles, Calif. - Prime Focus Group announced its first North American holdings with the acquisitions of Post Logic Studios and Frantic Films VFX. Terms of the acquisitions were not disclosed, and the transaction is pending any and all applicable regulatory approvals. The structure of these acquisitions is yet to be finalized.
The global postproduction company, Prime Focus Group, has expanded its holdings to North America with the purchase of Hollywood and New York-based Post Logic Studios and Frantic Films' VFX offices in Los Angeles, Winnipeg, and Vancouver.
Prime Focus Group's global footprint is significant with six visual effects and postproduction facilities across India and four facilities in London. This latest acquisition adds new facilities in Los Angeles, New York, Vancouver, and Winnipeg, along with ownership of 55,000 square feet of prime real estate in the heart of Hollywood, Calif., and 200 new staff members.
Aiming to become the leading visual effects and postproduction service provider in each local market, Prime Focus Group facilities in India service the country's thriving $2 billion film industry; its London facilities service European film and television projects, and in North America will continue to service the domestic film market.  
Bicoastal post facility Post Logic Studios, with offices in Hollywood and New York, is known for delivering high-level digital intermediate, color science, and postproduction services to independent and studio feature clientele.
Frantic Films businesses include an award winning visual effects company, with offices in Los Angeles, Vancouver and Winnipeg. Prime Focus Group will also be acquiring Frantic Films Software, the company's R&D division that develops and markets visual effects software solutions. 
Prime Focus Group is one of the largest integrated film, advertising, and television postproduction and visual effects companies in the world. It operates six studios in three different cities in India and four studios in London comprising Prime Focus UK, formed last year after the equity investment in effects and post company VTR. 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 more than 400 visual effects artists worldwide.  
"We are extremely delighted about investing into the incredible talent pool and technology at Frantic Films and Post Logic. The acquisitions strategically complete the Prime Focus Group's global proposition to ensure the best creative and technical services for content companies worldwide," says Namit Mahlotra, founder, Prime Focus Group. "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." 
"Having just launched our Image Science Division and refining our 4K DI workflow, this acquisition comes at a very exciting time in Post Logic's history," says Larry Birstock, CEO, Post Logic Studios. "We look forward to being part of the successful Prime Focus Group 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."  
"The acquisition by Prime Focus Group 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," says Frantic Films co-founder Chris Bond. "We also anticipate working closely with Prime Focus Group 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." 
Frantic Films also operates live-action production/postproduction 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.