Mumbai: Prime Focus Ltd is merging its creative services subsidiary Prime Focus World (PFW) with European visual effects provider Double Negative Visual Effects, Prime Focus announced on Wednesday. The merger is likely to be completed in the next 2-4 weeks.

While the firm did not reveal the transaction value, the deal has been backed by existing investors. Standard Chartered Private Equity, Macquarie Capital and AID Capital Partners are some of the private equity firms who have invested in the Indian firm.

Prime Focus offers services like 3D conversion, VFX effects and animation services to various media and entertainment companies globally. The firm has offered its services for several Hollywood movies like Maleficent, The Great Gatsby, Men in Black 3 and Avatar among others.

Commenting on the development, Vikas Rathee, chief operating officer at Prime Focus, said, “The deal will not only allow to multiply the revenues but will also enhance the credibility of Prime Focus."

The transaction will allow Prime Focus World to increase its revenues from $80 million to $200 million, making it one of the largest independent special effects provider globally.

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