Mumbai: Post-production firm Prime Focus Ltd will buy the post-production business of UTV Software Communications Ltd for an undisclosed sum.
Prime Focus would also be doing most post-production of UTV’s movies. UTV’s post production business and two facilities in Mumbai are expected to be transferred by October, Nishant Fadia, Prime Focus’ chief financial officer, said.
“It consolidates our market position ... We will get a significant market share with this addition,” Fadia said. UTV Software has also agreed to assign or transfer all rights related to the brand ‘USL´ to the company, Prime Focus said in a statement.
Shares in Prime Focus were up 2.55% at Rs 1,035.50 while those of UTV rose 1.46% to Rs 620.05 in a firm Mumbai market.