Prime Focus plans beachheads in Russia, Hungary
Indian Prime Focus Ltd, the Rs 300-crore ($75 million) company into entertainment technology and visual effects services, is planning to enter RussiaHungary (Budapest) markets soon. and
The management of the company is of the view that both these markets have huge potentials for films and related post-production businesses. The company has, however, not decided whether its foray into these markets will be through inorganic route or it would set up its own labs. An analyst said an acquisition in Russia and Budapest would help Prime Focus to capture the huge visual effects opportunity in the international markets. Reliance Capital, investor Rakesh Jhunjhunwala and Adlabs hold 12%, 7% and 3.5% stakes respectively in Prime Focus.
In India, the company is in the process of increasing its headcount from 1,500 to 2,000 by the end of the current calendar year. Nishant Fadia, chief financial officer (CFO), Prime Focus, told DNA Money, “The company is also pitching for huge contracts of films in Hollywood and expects to bag few major projects in the coming quarters.” Earlier, it expanded its footprints in the US and UK through acquisitions.
Prime Focus offers a spectrum of services ranging from camera rentals, visual effects, digital film lab (digital intermediate, high-resolution film scanning and film recording), editing, motion control and high definition production. (Sify, India)
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