CIOL:Imageworks acquires majority stake in FrameFlow

The company will be called Imageworks India, says Abhaya Kumar, managing director of FrameFlow’s Indian operations. Kumar spoke to R Jai

Krishna of CyberMedia News over telephone from Chennai. Excerpts:

What is the nature of Sony Picture Imageworks’ equity investment in FrameFlow?

Sony Pictures Imageworks has picked up 50.1 per cent equity stake in FrameFlow for a combination of cash investment, training and technology transfer and revenue guarantees, the combined value of which is approximately 25 Million USD. The company will now be renamed as Imageworks India and will become more integrated with Sony Pictures Imageworks’ main production facility in Culver City California.

What would Sony contribute now and what are your future plans?

Sony Pictures Imageworks will contribute a number of things that are of strategic and financial value. These include cash investment in upgrading our infrastructure, including the facility, the hardware and software the artists use on a daily basis, and the back-end equipment that drives this technology hungry business. It will also make significant contribution in training our staff in a number of new skills areas and deepen our tools and techniques in areas we already operate in. Finally, they are committing to opening up the flood gates of great project work for Imageworks India.

We are already ramping up work on a movie called “I am Legend” starring Will Smith, continue to work Spider-Man 3, and have several other major projects in store towards the latter part of the year.

As the integration between Culver City California and Chennai operations grows, so will the type and amount of work SPI depends upon Imageworks India to perform. This represents a tremendous opportunity for our business and our artists. To support the growth we are expecting in the business, we will be relocating to an IT park where we will occupy over 20,000 sq. ft and be able to accommodate approximately 300 employees.

What was FrameFlow’s USP that motivated Sony Pictures Imageworks to acquire a stake in the company?

FrameFlow’s USP has simply been the quality of its work along two dimensions – creative execution and production management. Visual effects and animation is a unique industry in that it demands what we can call the right brain functions and left brain functions of an organization to work in concert to be fully effective. We require artists with a keen creative eye that can meet the Director and Visual Effects Supervisors’ exacting needs, and we also require an extremely strong production management discipline that can keep pace with a rigorously demanding delivery schedule. FrameFlow recognized this early on and delivered with a strong footing on both fronts.

From the beginning, the deal seemed destined of success since our strategic goals have been highly aligned and our company cultures are very similar. Both parties have been keen on leveraging the large and developing talent pool represented by India and particularly Chennai. Growth that is based on wider talent pool and compelling cost economics seems inherently obvious to all parties.

© CyberMedia News

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