The DNEG Group announced today that United Al Saqer Group (UASG) is to invest $200 million in the DNEG Group.
This investment enables the DNEG Group to accelerate its strategy of innovation and diversification to evolve from a pure services provider to a content production and AI-powered technology partner, providing the highest quality solutions across media, entertainment, and gaming.
The investment will support new opportunities for the DNEG Group in three key areas:
- Investment in the development of new content by Prime Focus Studios, following the recent success of The Garfield Movie, joining its slate of in-production content, including Animal Friends, Ramayana, and The Angry Birds Movie 3
- The activation of a new technology division, Brahma, which is developing the industry’s most comprehensive AI-powered, photo-real CGI creator
- The opening of a new visual experience hub in Abu Dhabi, with plans to develop a world-class ecosystem for content production, storage, and distribution in the region
Speaking about the investment, DNEG CEO Namit Malhotra said:
“This investment will accelerate our plans to further drive The DNEG Group’s existing activities and enable the Group to expand its offering, both in terms of the services we provide and the markets we operate in. We are building on our success with the opening of a studio in Abu Dhabi, bringing content creation and technological capabilities to the region, positioning us as a leader there, and allowing us to leverage our global capabilities like no other.”
Joining Namit on the DNEG Group’s Board of Directors are Nabil Kobeissi and Edouard Zard from UASG, and Prabhu Narasimhan from NaMa Capital, a leading investor in the DNEG Group, who will also become Executive Chairman of Brahma.
Nabil Kobeissi, CEO of UASG said: “We are thrilled to join forces with Namit, Prabhu, and the DNEG Group. Namit’s visionary approach to revolutionizing the media and entertainment industry through cutting-edge technology is unparalleled. This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicenter for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”
The DNEG Group consists of:
- DNEG – Academy Award® winning visual effects, animation, and associated creative services, including ReDefine
- Prime Focus Technologies (PFT) – cloud-based software and artificial intelligence (AI) technology
- Prime Focus Studios – content and IP investment and development across live-action, animation, and gaming
- Brahma – developing an AI-powered, photo-real CGI creator
Read more in The Financial Times.