Prime Focus Technologies acquires DAX

Prime Focus Technologies acquires DAX

Mumbai and Los Angeles, April 7, 2014: Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus (BSE code: 532748) today announced that it has completed the acquisition of DAX, a leading provider of cloud-based production workflow and media asset management applications to the entertainment industry.

On March 11th, PFT announced a definitive agreement to acquire DAX for a base consideration of US$ 9.1 million in a uniquely structured performance linked transaction. PFT through its US subsidiary will acquire all the assets of DAX for an upfront payment with balance payable over 3 years primarily from cash flows from the North American operations.

This acquisition gives PFT ownership of DAX's patented technology (US Patent No: 7,660,416/ 8,218,764) 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. 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, Legendary Pictures, Fox Television Studios, A&E, Showtime, Starz, Relativity Media and Lionsgate) and many independent production and distribution companies.

The PFT-DAX combination creates an unrivaled industry leader offering a uniquely robust and dynamic stack of enterprise-class Media ERP solutions to Broadcasters and Studios. PFT and DAX will be exhibiting together at the upcoming NAB Show 2014 (booth SL#9605), and will showcase a number of CLEAR and DAX product releases including:

New content supply chain management tools to support TV Everywhere needs

Sneak preview of first-of-its-kind CLEAR Production Hub, a cloud application that fosters automation of production pipeline

Unveiling DAX Mobile for viewing iDailies on iPhone

Premiering DAX BOX co-developed with PFT DVR-like device to stream HD content at home, office or theatre

Prime Focus Limited, a global leader in media and entertainment industry services employs over 4,300 professionals in 11 cities across 4 continents and 5 time zones. We provide end-toend creative and technical services including visual effects, stereo 3D conversion, video/audio post-production, media asset management, Digital Intermediate, versioning and adaptation, and equipment rental to the Film, Broadcast, Advertising and Media industries. Prime Focus is also behind path breaking technologies like CLEAR (Hybrid Cloud technology enabled Media ERP platform) and View-D (stereoscopic 2D to 3D conversion). Leveraging our Global Digital Pipeline and pioneering delivery model WorldSourcing we partner content creators at every stage of the process ensuring work flow efficiencies, cost optimization and creative enablement. Listed on the BSE and NSE of India, Prime Focus has operations in Los Angeles, New York, Vancouver, London,Johannesburg, Mumbai, Bangalore, Chandigarh, Delhi, Kolkata and Hyderabad.

For more details please visit: primefocusltd.com

About DAX LLC

DAX (http://www.daxcloud.com / @daxplatform) is the provider of production workflow and media asset management applications and services to companies that produce, distribute and license audio-visual content. The DAX platform, including Emmy Award-winning Digital Dailies , is a highly-secure innovative web-based application used by most major studios and television networks for collaboration and distribution management of content during the production process, and for marketing and distribution of final product and library assets.

The company is based in Culver City, California, close to the major Hollywood studios and networks it services, as well as serving Canadas media industry, and its clientele shooting in Canada, from its Toronto office.

Media Relations for Prime Focus Technologies NA:

Jose Kunnappally

Head, Marketing and Communications

Prime Focus

+91 887 964 5359

jose [dot] kunnappally

primefocusworld [dot] com

Annu Dwivedi

Genesis Burson-Marsteller for Prime Focus Limited

+ 91 982 002 4293

annu [dot] dwivedi

bm [dot] com

LINK:	http://www.primefocusgroup.com/news/2014/04/prime-focus-technologies-a...
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