DNEG, the visual effects and animation company behind Dune and many other high-profile productions, is merging with a SPAC called Sports Ventures Acquisition Corp. in a deal that aims to take the g…
called Sports Ventures Acquisition Corp. in a deal that aims to take the group public with a stock listing on the Nasdaq .The transaction implies a combined company enterprise value of approximately $1.7 billion.group that works with Hollywood studios, streaming services and production companies worldwide with operations in North America , Europe and Asia . The two-decade old firm has been awarded six out of the last ten Academy Awards for Best Visual Effects.
Formed through the 2014 merger of Prime Focus and Double Negative , DNEG has also focused historically on building close working relationships with filmmakers. “This transaction creates long-term stability for our teams while also allowing us to exploit the tailwinds in the media and entertainment industry and the explosion in demand for content, which are huge growth drivers for our company,” said Malhotra. “I am excited to take the best of everything that makes our company so successful and to use it as a platform on which to build and innovate further.
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