India based, Prime Focus Ltd. has announced that the company is close to reaching final agreements to acquire Post Logic Studios and Frantic Films for USD 43 million, pending finalization of deal structure and applicable regulatory and statutory approvals.

The Post Logic Studios having offices in Hollywood and New York, famous for delivering high level digital intermediate, color science and post-production services to independent and studio feature clientele while Frantic Films businesses include an award-winning visual effects company, with offices in Los Angeles, Vancouver and Winnipeg.

The acquisition will add rights over 55,000 square feet of prime real estate in the heart of Hollywood, and a talent pool of 200 new staff members.

This deal will also give the Prime Focus Group access to the R&D division of Frantic Films, which develops and markets visual effects software solutions.

Prime Focus Group already is one of India's largest post/VFX businesses with 6 facilities across India, as well as sites in London that make up Prime Focus England. The company was formed in the year 1997 in a garage with four people and an investment of 10,000 USD has grown to an organization of over 1,250 people with a current market capitalization of over 400 Million USD

Namit Malhotra, Managing Director of Prime Focus said "We are extremely excited about investing in the incredible talent pool both at Frantic Films and Post Logic."

"These companies have developed proprietary technologies and processes for film color management, visual effects and pipeline collaboration, and we will share and transfer these technologies to benefit all of the Prime Focus Group companies," he added.

Larry Birstock, CEO of Post Logic Studios said "We look forward to being part of the successful Prime Focus Group organization and to taking advantage of creative synergies across continents and across disciplines to deliver a new model for the future of digital post production."

Chris Bond, Co- founder of Frantic Films said "This acquisition by Prime Focus Group will allow us to expand the Frantic Films presence in North America with additional staff and resources to take on even larger projects than ever before."

"We also anticipate working closely with Prime Focus Group companies across North America, India and the U.K. to broaden our pipelines internationally, and offer our film VFX clients an expanded slate of post services," he added.