London-based visual effects and animation house, DNEG, announced today that it has secured a staggering $200 million investment from Abu Dhabi-based United Al Saqar Group. Known for their work on blockbusters like Dune and Stranger Things, DNEG has cemented its position as a leader in the industry. With this latest investment, the company plans to accelerate artificial intelligence-driven content creation through its newly-launched technology division, Brahma.
In addition to driving AI-driven content creation, the funds will also be used to strengthen other divisions within DNEG, such as Prime Focus Studios, a provider of cloud-based software and AI technology for the media industry. Moreover, DNEG aims to create a visual experience hub in Abu Dhabi, further expanding its global presence.
DNEG’s Chairman and CEO, Namit Malhotra, expressed his excitement about the investment, stating, “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.”
The investment from the United Al Saqar Group, a diversified business group in the UAE, values the DNEG Group at over $2 billion, catapulting the company to new heights. Nabil Kobeissi and Edouard Zard from the Al Saqar Group will join DNEG’s board of directors, providing valuable expertise and guidance.
DNEG has consistently delivered exceptional visual effects and animation work for some of the biggest names in the industry. As the preferred visual effects creator for visionary filmmaker Christopher Nolan, they have contributed to movies like Inception, Interstellar, and Tenet. They have also collaborated with Dimension Studios on virtual production work for popular shows like Masters of the Air, Those About to Die, and Avatar: The Last Airbender.
This massive investment comes after DNEG’s decision to call off a previous business combination that would have seen them go public in a $1.7 billion deal. Despite this setback, the company has continued to thrive, expanding its capabilities and cementing its position as a leader in the VFX industry.
The investment from the United Al Saqar Group not only provides a significant capital injection for DNEG, but also opens up new opportunities for expansion and development. With their sights set on Abu Dhabi, DNEG is poised to bring content creation and technological capabilities to the region, solidifying its position as a leader in the global market.
As the entertainment industry continues to evolve and embrace artificial intelligence-driven technologies, DNEG is at the forefront, pushing boundaries and driving innovation. With this latest investment, they are well-positioned to further enhance their services and make a lasting impact on the industry. Watch out for what DNEG has in store for the future.
In the words of Namit Malhotra, “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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