Prime Focus’ arm inks definitive agreement to acquire DAX

11 Mar 2014 Evaluate

Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus, has signed a definitive agreement to acquire DAX, a leading provider of cloud-based production workflow and media asset management applications to the entertainment industry for a base consideration of $9.1 million amounting Rs 56 crore in a uniquely structured performance linked transaction.

PFT through its US subsidiary will acquire all the assets of DAX for an upfront payment and with balance payable over 3 years such that cash flows from the North American operations will support the payment.

This acquisition gives PFT ownership of DAX’s patented technology and products including the Primetime Emmy award winning Digital Dailies solution which is the de-facto industry standard in television production. This acquisition also sets the course for PFT’s strategic expansion in North America.

Further, PFT will significantly enhance the value proposition to DAX’s marquee customers including major studios and broadcast networks (Warner Bros. Television Studios, CBS Television Studios, 20th Century Fox Television Studios, Relativity Media, Legendary Pictures, Fox Television Studios, A&E, Showtime, Starz Media and Lionsgate) and many independent production and distribution companies.

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