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Tag: CLEAR Media ERP

  • Prime Focus Tech gets funding from PE firm Ambit Pragma

    Prime Focus Tech gets funding from PE firm Ambit Pragma

    MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus – informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

    The amount or how much was being divested in favour of Ambit Pragma was not disclosed by PFT .

    It, however, elaborated that it proposes to use the investment for intensifying its development efforts of the software as a service (SaaS) products including its CLEAR Media ERPand gaining deeper penetration and growth in strategic markets such as North America and EMEA with increased sales and marketing efforts.

    PFT’s flagship product CLEAR Media ERP is targeted at M&E companies who increasingly adopt technology to tap the digital consumer landscape while enhancing efficiencies and lowering Total Cost of Ownership (TCO).

    CLEAR is the world’s first and most proven cloud based Media ERP Suite that virtualizes the content supply chain and builds a connected enterprise for M&E companies.

    PFT works with more than 300 clients in India and is the chosen technology partner for more than 100 clients globally including various leading broadcasters, studios, brands, sports and digital organizations.

    PFT’s award winning CLEAR Media ERP suite and Cloud Media Services have been successfully deployed for the last eight years in global M&E companies such as 21st Century Fox-owned Star India, Novi Digital, Hotstar, Miramax, Disney, Warner Bros, Global Eagle Entertainment, Cricket Australia, CBS Television Studios, 20th Century Fox Television Studios, FX Networks, Crown Media Holdings, Legendary Pictures, Starz Media, Lionsgate, A+E Networks, HBO, Mnet, CNBC Africa, SABC, IFC Films, HOOQ, Sony Music, Voot, Hearst Television, Showtime, BCCI, Indian Premier League and The Associated Press,among others.

    “Media ERP adoption in the global M&E industry has been growing steadily. With flat revenues and shrinking margins in traditional media, content enterprises especially broadcasters and studios have a tough time finding resources to invest in new monetization opportunities. M&E companies have to completely rethink technology investments and rejig their business model to survive in the new digital reality,” says PFT founder & CEO Ramki Sankaranarayanan.

    The investment by Ambit Pragma istremendous market validation of the business opportunity we serve and offers us growth capital to execute on our strategy for global leadership in the Media ERP space. We are delighted to have a like-minded partner in Ambit Pragma who appreciates the realities and opportunities within the M&E industry.”

    Adds Ambit Pragma CEO Rajeev Agrawal: “PFT is a global pioneer addressing the challenge s content enterprises are facing in this hyper digital market through their cutting-edge technology. The architectural road map of the product, its multiple use cases and their management’s thought leadership, represent a compelling opportunity for us to make the investment.”

  • Prime Focus Tech gets funding from PE firm Ambit Pragma

    Prime Focus Tech gets funding from PE firm Ambit Pragma

    MUMBAI: Prime Focus Technologies (PFT) – the technology offshoot of media services company Prime Focus – informed the Bombay stock exchange today that it had received its first round of funding from growth capital private equity fund Ambit Pragma.

    The amount or how much was being divested in favour of Ambit Pragma was not disclosed by PFT .

    It, however, elaborated that it proposes to use the investment for intensifying its development efforts of the software as a service (SaaS) products including its CLEAR Media ERPand gaining deeper penetration and growth in strategic markets such as North America and EMEA with increased sales and marketing efforts.

    PFT’s flagship product CLEAR Media ERP is targeted at M&E companies who increasingly adopt technology to tap the digital consumer landscape while enhancing efficiencies and lowering Total Cost of Ownership (TCO).

    CLEAR is the world’s first and most proven cloud based Media ERP Suite that virtualizes the content supply chain and builds a connected enterprise for M&E companies.

    PFT works with more than 300 clients in India and is the chosen technology partner for more than 100 clients globally including various leading broadcasters, studios, brands, sports and digital organizations.

    PFT’s award winning CLEAR Media ERP suite and Cloud Media Services have been successfully deployed for the last eight years in global M&E companies such as 21st Century Fox-owned Star India, Novi Digital, Hotstar, Miramax, Disney, Warner Bros, Global Eagle Entertainment, Cricket Australia, CBS Television Studios, 20th Century Fox Television Studios, FX Networks, Crown Media Holdings, Legendary Pictures, Starz Media, Lionsgate, A+E Networks, HBO, Mnet, CNBC Africa, SABC, IFC Films, HOOQ, Sony Music, Voot, Hearst Television, Showtime, BCCI, Indian Premier League and The Associated Press,among others.

    “Media ERP adoption in the global M&E industry has been growing steadily. With flat revenues and shrinking margins in traditional media, content enterprises especially broadcasters and studios have a tough time finding resources to invest in new monetization opportunities. M&E companies have to completely rethink technology investments and rejig their business model to survive in the new digital reality,” says PFT founder & CEO Ramki Sankaranarayanan.

    The investment by Ambit Pragma istremendous market validation of the business opportunity we serve and offers us growth capital to execute on our strategy for global leadership in the Media ERP space. We are delighted to have a like-minded partner in Ambit Pragma who appreciates the realities and opportunities within the M&E industry.”

    Adds Ambit Pragma CEO Rajeev Agrawal: “PFT is a global pioneer addressing the challenge s content enterprises are facing in this hyper digital market through their cutting-edge technology. The architectural road map of the product, its multiple use cases and their management’s thought leadership, represent a compelling opportunity for us to make the investment.”

  • PFT raises Rs 45 crore through optionally convertible debentures

    PFT raises Rs 45 crore through optionally convertible debentures

    MUMBAI: Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus is really upping the ante, as it raised Rs 45 crore through a private placement of optionally convertible debentures (OCDs) from a diverse base of High Net-worth Individuals.

     

    The investors will have an option to convert up to 25 per cent of the total principal amount or around Rs 11 crore into equity of PFT after two years. The firm said this puts a base equity valuation of PFT at Rs 1,100 crore. This means the unnamed investors may get around one per cent stake for part conversion of the OCDs.

     

    The company will use the fund raised to fuel its expansion plans of cloud technology product, namely CLEAR in the global markets and also to peel debt.

     

    “Through this attractively structured instrument, we have secured growth capital while broad-basing our investor base and at the same time creating a compelling opportunity for shareholder value creation at PFT as well as the ultimate shareholders at PFL level,” said PFT founder and CEO Ramki Sankaranarayanan in a statement.

     

    CLEAR Media ERP claims to be a pioneering solution and market leader with the world’s biggest broadcasters and distribution networks using it for managing their revenue and time critical content operations. PFT’s innovative hybrid cloud technology platform virtualises the content supply chain and helps media and entertainment organisations manage the business of content. CLEAR already hosts and manages over 350,000 hours of content and delivers more than 200 TV shows a day.

     

    PFT has grown at over 150 per cent on a year-on-year basis since inception six years ago and aims to replicate its initial success with broadcasters in the North American studio production segment, the statement said.

     

    Recently, PFT acquired US-based DAX LLC, a provider of cloud-based production workflow and media asset management applications, for Rs 56 crore in a performance-linked transaction.

     

    DAX is the creator of the Primetime Emmy Award winning Digital Dailies, which is the de facto industry standard in TV production.

     

    CLEAR, PFT’s award-winning Hybrid Cloud technology enabled Media ERP platform and digital content services help broadcasters, studios, advertisers, sports bodies, news agencies, the government and service providers drive creative enablement, enhance ecosystem efficiencies and sustainability, reduce cost and realize new monetisation opportunities.

     

    PFT works with major content owners like Bloomberg, Disney, Warner Bros., News Corporation owned Star TV, Zee TV, Eros International, Sony Music, Viacom 18, MSM, BCCI (Board of Control for Cricket in India), IPL (Indian Premiere League), Hindustan Unilever Limited, The Associated Press, A & E TV Network and Schawk!

     

    Prime Focus’ worldwide network of studios and WorldSourcing model supported by a Global Digital Pipeline allows PFT to offer customers transformational solutions that help them virtualise business processes around content and manage the business of content better.

     

    PFT had announced a net profit of Rs 2.69 crore from revenues of Rs 52.44 crore for the quarter ended 31 December, 2013. This is a big jump from the Rs 51.07 crore loss posted in the same time the previous year from revenues of Rs 43.94 crore.

     

    The technology business and the visual effects business contribute to about 84 per cent of the company’s revenue. The technology division alone grew 112 per cent year-on-year in Q3-FY14 driven by an increasing adoption of CLEAR as well as addition of new services around it, the company said during its earnings call.

     

    Following the announcement yesterday, Prime Focus’ shares hit a high of Rs 31.15 and a low of Rs 29.70 so far during the day. The stock had hit a 52-week high of Rs 43.05 on 9 April 2013. The stock had hit a 52-week low of Rs 23.75 on 5 December 2013.