DNeg merges with Prime Focus World
Double Negative and Prime Focus World are to merge to form a global entity offering VFX, stereo conversion and animation.
As a subsidiary of Prime Focus World, the new business will trade under the name ‘Double Negative’.
The merger of Prime Focus’ creative services subsidiary with the award-winning visual effects powerhouse provides a platform upon which to fulfill international aspirations, said DNeg managing director Alex Hope. This would include the imminent opening of Double Negative Vancouver in the autumn, and the opportunity to work with the Prime Focus’ team in Mumbai.
“Our new relationship with Prime Focus World combines fantastic opportunities to grow our business with the freedom to continue to manage Double Negative in the way we always have,” said Hope. “Providing a great creative environment for our artists and producing ground breaking effects for our clients.”
Namit Malhotra, founder of Prime Focus and CEO of Prime Focus World, informed press that Prime Focus would hold around 80 percent of the shares in the new business, with himself, Alex Hope, Dneg CEO Matthew Holben and others on a management board.
With arms in Mumbai, London, Los Angeles, Vancouver and China, Prime Foucs World has been involved with summer blockbusters such as Transformers: Age of Extinction, Sin City: A Dame To Kill For, Edge of Tomorrow, Brett Ratner’s Hercules, Maleficent 3D and Earth to Echo.
Last year saw the launch of Double Negative Films, formed specifically to provide VFX support and investment to British-qualifying productions, as well as the formation of Dneg TV, a division to tailor Dneg’s skills to the specific needs of the Television industry. The studio is has delivered visual effects for films such as Godzilla, Christopher Nolan’s Interstellar, Jupiter Ascending, Ridley Scott’s Exodus: Gods and Kings, and Hercules. Its latest projects in progress include Terminator: Genesis, Insurgent, Grimsby, Ant-Man and Batman vs Superman: Dawn of Justice.
“This is a transformational event -both for the companies involved and for the industry,” said Namit Malhotra. “PrimeFocus has proven over the last five years the undeniable benefits of global collaboration: the flexibility of working in different timezones; the coming together of creative talent from across the globe;and the ability to leverage tax incentives. We can now bring this together with Double Negative’s unquestionable creative excellence to build a truly formidable offering.”
The merger is expected to be completed in the next few weeks
© 2014, Michael Burns. All rights reserved.