Technology

DNEG Group Secures $200 Million Investment from Abu Dhabi's United Al Saqer Group

Jul 2, 2024 1 min read

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The DNEG Group, a visual entertainment technology and services company, has raised $200 million from Abu Dhabi-based United Al Saqer Group (UASG). This investment values the company at over $2 billion and aims to accelerate DNEG's strategy of innovation and diversification. The funds will support the company's transition from a visual effects services provider to a sector-agnostic content production and AI-powered technology partner.

DNEG plans to activate its technology division, Brahma, which is developing the AI-based CGI creator, Ziva. Additionally, the investment will enable the company's intellectual property and content creation arm, Prime Focus Studios, to expand its high-quality content production, building on the success of its co-production of The Garfield Movie. The company also plans to open a new office and visual experience hub in Abu Dhabi to develop a world-class ecosystem for content production, storage, and distribution.

Namit Malhotra, DNEG Chairman and CEO, will continue in his current role. The board of directors will be joined by Nabil Kobeissi and Edouard Zard from UASG, along with Prabhu Narasimhan from NaMa Capital, who will also serve as Executive Chairman of Brahma. This partnership highlights Abu Dhabi's emergence as a significant hub for creativity, innovation, and investment in the media and technology sectors.

#tech #ai #entertainment

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