Abu Dhabi’s United Al Saqer Group (UASG) is set to invest $200 million in London-based visual effects and animation studio DNEG Group. This significant investment values DNEG at over $2 billion and aims to elevate the media and technology landscape in the UAE capital.
Establishing a Media Hub in Abu Dhabi
A key part of the investment includes the development of a new DNEG studio in Abu Dhabi. This facility will focus on content production, storage, and distribution, and is expected to create numerous job opportunities in the media and technology sectors. Namit Malhotra, Chairman and CEO of DNEG, stated, “The opening of a studio in Abu Dhabi will bring content creation and technological capabilities to the region, positioning us as a leader and leveraging our global capabilities.”
Strategic Expansion and Technological Innovation
DNEG, known for its work on films such as “Dune,” “Interstellar,” “Oppenheimer,” and the “Harry Potter” and “James Bond” franchises, is evolving from a visual effects services provider to a content production and AI-powered technology partner. The investment will support the activation of DNEG’s technology division, Brahma, which is developing an AI-powered, photoreal CGI creator. Additionally, DNEG’s content arm, Prime Focus Studios, will benefit from further investments in production.
Leadership and Governance
The investment brings changes to DNEG’s leadership structure. Namit Malhotra will continue as Chairman and CEO, joined on the Board of Directors by Nabil Kobeissi and Edouard Zard from UASG, and Prabhu Narasimhan from NaMa Capital. Narasimhan will also become Executive Chairman of Brahma, taking a leave of absence from NaMa Capital to oversee its launch and expansion.
Enhancing Abu Dhabi’s Global Media Presence
The establishment of DNEG’s Abu Dhabi studio aligns with the UAE’s strategic goals to diversify its economy and foster innovation. This move strengthens Abu Dhabi’s reputation as a global hub for media and technology, attracting high-profile investments and international collaborations.
Conclusion
UASG’s $200 million investment in DNEG Group marks a significant milestone for Abu Dhabi’s media and technology sectors. With the creation of a new studio and the development of advanced AI technology, this partnership is poised to enhance the region’s role in the global entertainment industry. As Abu Dhabi continues to develop its media infrastructure, it is set to become a key player in content creation and technological innovation.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
2nd July, 2024
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