The shares of an Entertainment company, specializing in providing media and entertainment services jumped upto 3 percent following the acquisition of Metaphysic to Turbocharge the Development of an AI-Native Product Suite.
Price action
With a market capitalization of Rs. 3,179.86 crores on Wednesday, the shares of Prime Focus Limited jumped upto 2.4 percent making a high of Rs. 107.00 per share compared to its previous closing price of Rs. 104.49 per share.
What Happened
Prime Focus Limited engaged in providing media and entertainment services through its subsidiary Brahma has acquired Metaphysic to Turbocharge the Development of an AI-Native Product Suite.
Brahma, part of the DNEG Group, is developing a comprehensive suite of AI-native products across video, image, and audio. Metaphysic is a leading developer of generative AI technologies to create photorealistic content at scale, known for its work on Hollywood films and high-profile live entertainment.
The merger will accelerate Brahma’s development of AI-powered products for enterprises, IP rights-holders, and content creators across industries, and following the acquisition, Brahma is valued at $1.43 billion, with United Al Saqer Group (UASG) investing an additional $25 million.
The company will develop foundational AI, data, and content workflow & management technologies as part of a comprehensive suite of AI-native products designed to create user-customized content across video, image, and audio with this Brahma will employ over 800 engineers and technologists globally.
About the Company
Prime Focus is a global leader in creative services, specializing in visual effects, post-production, and content delivery. The company provides end-to-end solutions for film, television, and digital media, including VFX, animation, and 3D conversion. Prime Focus is renowned for its innovative technology and has worked on high-profile projects across the entertainment industry.
Financials
The company’s total revenue fell by 12 percent from Rs. 945.66 crore to Rs. 825.68 crore in Q3FY24-25. Meanwhile, loss increased from Rs. 55.29 crore to Rs. 60.18 crore during the same period.
Written by Sridhar J
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