The DNEG Group lands $200m investment from United Al Saqer Group

The DNEG Group has announced a $200m (£158m) investment from United Al Saqer Group (UASG), giving the company an enterprise valuation in excess of $2 billion (£1.58bn).

The investment by UASG will “accelerate The DNEG Group’s strategy of innovation and diversification to evolve from a pure visual effects services provider to a sector-agnostic content production and AI-powered technology partner,” says DNEG.

It has outlined the following ways this will happen:

• The DNEG Group will “fully activate” its technology division, Brahma, which is developing an AI-powered, photo-real CGI creator. DNEG says Brahma will “democratise photo-real content creation in a wide range of applications and will be built on over 25 years of industry leading proprietary data”  
• The DNEG Group’s IP and content creation arm, Prime Focus Studios, will expand its investment in, and production of content, following its recent co-production of The Garfield Movie (pictured above).
• The DNEG Group will open a new office and “visual experience hub” in Abu Dhabi, with plans to develop an ecosystem in the Middle East for content production, storage, and distribution. This will support the creation of jobs across the media and technology sectors in the region.

DNEG Chairman and CEO Namit Malhotra will continue in his current role. He will be joined on the group’s board of directors by Nabil Kobeissi and Edouard Zard from UASG, and by Prabhu Narasimhan from NaMa Capital, a leading investor in The DNEG Group, who will also become executive chairman of Brahma. Prabhu Narasimhan will take a leave of absence from NaMa Capital to oversee the launch and expansion of Brahma.

His Excellency Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development said: “The strategic investment by United Al Saqer Group in The DNEG Group is a testament to Abu Dhabi’s emergence as a global powerhouse for creativity, innovation, technology, and investment. This partnership not only accelerates technological advancements in the media and entertainment sectors but also underscores our commitment to fostering a robust ecosystem for content creation. By establishing a new visual experience hub in Abu Dhabi, we are creating numerous job opportunities and enhancing our ecosystem that supports high-tech industries and creative excellence. This move reaffirms Abu Dhabi’s status as a prime destination for groundbreaking investments, visionary enterprises, and a thriving environment where creativity and technology converge.”

Nabil Kobeissi, CEO of UASG said: “We are thrilled to join forces with Namit, Prabhu, and the DNEG Group. Namit’s visionary approach to revolutionising the media and entertainment industry through cutting-edge technology is unparalleled. This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicenter for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”

DNEG Chairman and CEO Namit Malhotra, added: “My career has been built on investing in and leading visual creativity with technology. Our partnership with UASG, the launch of Brahma, and the success of our content creation platform are all being fuelled by the power of our technology. We are redefining our business model as a leader in top-end solutions across the world, raising the bar in storytelling by using the latest technology and creative capabilities.

“This investment will accelerate our plans to further drive The DNEG Group’s existing activities and enable the Group to expand its offering, both in terms of the services we provide and the markets we operate in. We are building on our success with the opening of a studio in Abu Dhabi, bringing content creation and technological capabilities to the region, positioning us as a leader there, and allowing us to leverage our global capabilities like no other.”

Prabhu Narasimhan, executive chairman, Brahma said: “Our aim is to enable every storyteller to translate their imagination to screen faster, cheaper, and better, by equipping them with Brahma, which we are developing to be the most comprehensive AI-driven photo-real CGI creator. In the coming months we will add to the leadership team of Brahma, fusing top technology and AI talent with visual effects creatives to make Brahma available to everyone with a story to tell.”