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Prime Focus Technologies to acquire DAX

(Mumbai, & Los Angeles–March 12, 2014) Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus (BSE code: 532748) today announced that it has signed a definitive agreement to acquire DAX, a leading provider of cloud-based production workflow and media asset management applications to the entertainment industry for a base consideration of US$ 9.1 million in a uniquely structured performance linked transaction. PFT through its US subsidiary will acquire all the assets of DAX for an upfront payment with balance payable over 3 years such that cash flows from the North American operations will support the payment.

PFT secures ownership of Primetime Emmy® award winning Digital Dailies® solution which is the de-facto industry standard in television production

Broadcast Beat - Production Industry Resource