DNEG Group Secures $200M Investment from UASG for Expansion

On July 2, 2024, Prime Focus Limited reported in a stock exchange filing that the DNEG Group had announced a strategic investment of $200 million by United Al Saqer Group (UASG), valuing the Group at over $2 billion.

The DNEG Group, renowned for its 25-year history of innovation in the visual effects (VFX) sector and strong profitability, operates within a rapidly evolving media and entertainment landscape. In 2014, Prime Focus merged with DNEG.

UASG’s investment aims to accelerate DNEG’s innovation and diversification strategy, transforming it from a VFX services provider to a versatile content production and AI-powered technology partner.

Key initiatives include the full activation of Brahma, DNEG’s technology division focused on developing an AI-powered, photo-real CGI creator named Ziva. This initiative, bolstered by proprietary data and the recent acquisition of the exclusive license from Unity, aims to democratise photo-real content creation across various applications.

Additionally, DNEG’s intellectual property arm, Prime Focus Studios, plans to expand its investment in high-quality content production, building on recent successes such as co-producing The Garfield Movie.

The DNEG Group will establish a new office and visual experience hub in Abu Dhabi, intending to create a world-class ecosystem for content production, storage, and distribution in the Middle East. This initiative aims to enhance the region’s position as a hub for creativity and innovation, fostering skilled job creation across media and technology sectors.

Namit Malhotra, Chairman and CEO of DNEG, will continue in his current role. The Group’s Board of Directors will include new members Nabil Kobeissi and Edouard Zard from UASG, along with Prabhu Narasimhan from NaMa Capital, who will serve as Executive Chairman of Brahma while overseeing its launch and expansion.

Commenting on this investment, his excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, said, “The strategic investment by the United Al Saqer Group in The DNEG Group is a testament to Abu Dhabi’s emergence as a global powerhouse for creativity, innovation, technology, and investment. This partnership not only accelerates technological advancements in the media and entertainment sectors but also underscores our commitment to fostering a robust ecosystem for content creation.”

He further added, “By establishing a new visual experience hub in Abu Dhabi, we are creating numerous job opportunities and enhancing our ecosystem that supports high-tech industries and creative excellence. This move reaffirms Abu Dhabi’s status as a prime destination for groundbreaking investments, visionary enterprises, and a thriving environment where creativity and technology converge.”

The Chairman and CEO of DNEG, Namit Malhotra, said, “My career has been built on investing in and leading visual creativity with technology. Our partnership with UASG, the launch of Brahma, and the success of our content creation platform are all being fuelled by the power of our technology. We are redefining our business model as a leader in top-end solutions across the world, raising the bar in storytelling by using the latest technology and creative capabilities.”

He also added, “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.”

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