UAE’s United Al Saqer Group (UASG) is investing US$200 million in the VFX and animation major DNEG Group.
As per DNEG, this investment enables it to innovate and diversify, and evolve from a pure services provider to a content production and AI-powered technology partner, providing solutions across media, entertainment, and gaming.
The investment will support new opportunities for the DNEG Group in three key areas:
- Development of new content by Prime Focus Studios, following the recent success of The Garfield Movie, joining its slate of in-production content, including Animal Friends, Ramayana, and The Angry Birds Movie 3.
- The activation of a new technology division, Brahma, which is developing comprehensive AI-powered, photo-real CGI creator.
- The opening of a new visual experience hub in Abu Dhabi, with plans to develop an ecosystem for content production, storage and distribution in the region.
Speaking about the investment, DNEG CEO Namit Malhotra said, “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.”
Joining Malhotra on the company’s Board of Directors are Nabil Kobeissi and Edouard Zard from UASG, and Prabhu Narasimhan from NaMa Capital, a leading investor in the DNEG Group, who will also become executive chairman of Brahma.
UASG’s CEO Kobeissi said, “We are thrilled to join forces with Namit, Prabhu, and the DNEG Group. Namit’s visionary approach to revolutionising the media and entertainment industry through cutting-edge technology is unparalleled. This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicenter for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”
The DNEG Group consists of ReDefine (and other visual effects, animation, and associated creative services), Prime Focus Technologies (a cloud-based software and AI technology), Prime Focus Studios (content and IP investment and development across live-action, animation, and gaming) and Brahma.
