Abu Dhabi's United Al Saqer Group Invests $200 Million In Academy Award-Winning VFX Firm DNEG Group
Abu Dhabi based-United Al Saqer Group (UASG) has announced a $200 million investment in the DNEG Group, one of the world's leading visual effects and animation studios for feature film and television, enabling it to expand from a pure services provider to a content production and AI-powered technology partner for media, entertainment, and gaming. The investment will support new opportunities for the DNEG Group in three key areas.
Firstly, the funding will facilitate the development of new content by Prime Focus Studios, which recently produced The Garfield Movie. The studio's current slate of in-production content includes Animal Friends, Ramayana, and The Angry Birds Movie 3.
Secondly, the investment will also activate a new technology division called Brahma, which is developing the industry's most comprehensive AI-powered, photo-real CGI creator.
Thirdly, the funding will enable the opening of a new visual experience hub in Abu Dhabi. This hub aims to develop a world-class ecosystem for content production, storage, and distribution in the region.
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.”
Nabil Kobeissi, CEO of UASG, expressed excitement about joining forces with Namit Malhotra and the DNEG Group. He highlighted Namit's visionary approach to revolutionizing the media and entertainment industry through cutting-edge technology. This strategic partnership will turbo-charge the development of Brahma and demonstrate Abu Dhabi's positioning as a global epicenter for content creation and distribution.
The DNEG Group comprises Academy Award-winning visual effects company DNEG; cloud-based software and AI technology provider Prime Focus Technologies (PFT); content and IP investment developer Prime Focus Studios; and Brahma, which is developing an AI-powered photo-real CGI creator. DNEG is a global company with studios in London, Vancouver, Mumbai, Los Angeles, Chennai, Montréal, Mohali, Bengaluru, Toronto and Sydney.
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