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VFX-focused DNEG attracts $200-M from UAE’s United Al Saqer Group

Press Release   Business Line  

Visual entertainment tech services company DNEG Group has attracted USD 200 million from UAE-based United Al Saqer Group at a total enterprise valuation in excess of USD 2 Billion.DNEG (formerly known as Double Negative) is a British-Indian visual effects, computer animation and stereo conversion studio that was rebranded as DNEG in 2014 after a merger with Indian VFX company Prime Focus Studios. As a subsidiary of Prime Focus Studios, it provides visual effects, animation, and associated creative services to Hollywood and global visual entertainment creators.The new funds will be used to strengthen its technology division and for Brahma, a photo-real CGI creator, which aims to democratise photo-real content creation in a range of applications. The group will also open a new office and visual experience hub in Abu Dhabi, with plans to develop an ecosystem in the Middle East for content production, storage, and distribution.