Prime Focus surges 5% as subsidiary buys California's DAX

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Moneycontrol Bureau

Shares of Prime Focus, the visual entertainment services provider, rallied 5 percent in early trade Tuesday after its subsidiary Prime Focus Technologies (PFT) signed a definitive agreement to acquire DAX.

California-based DAX provides cloud-based production workflow and media asset management applications to the entertainment industry.

PFT bought DAX for a base consideration of USD 9.1 million or Rs 56 crore in a uniquely structured performance linked transaction.

"PFT through its US subsidiary will acquire all the assets of DAX for an upfront payment and with balance payable over three years such that cash flows from the North American operations will support the payment," Prime Focus said in its filing.

The company also said, "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."

“Our vision is to build the best enterprise platform for production on the cloud by taking a fresh look at media workflows through the lens of a studio that wants to efficiently collaborate across divisions with its entertainment content before, during and after the production phase,” said Ramki Sankaranarayanan, founder and CEO, PFT said. "Digital Dailies is one of the first significant entry points to production on the cloud. PFT’s CLEARTM Media ERP platform combined with DAX’s team and products will accelerate the realisation of this vision," he added.

Meanwhile, the trading Window for dealing in securities of the company shall remain closed from the closure of business hours of March 10, 2014 to the closure of business hours of March 11, 2014.

At 09:24 hours IST, the stock rose 5 percent to Rs 29.40 on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar