Prime Focus to invest USD 30-40 mn in product development

Prime Focus Technologies (PFT), the technology arm of Prime Focus Ltd, today said it is looking at investing USD 30-40 million in product development over next 4-5 years.
Prime Focus Technologies, in sync with 'Make in India' agenda, intends to invest USD 30-40 million in product development as part of its endeavour to enhance and build on the enterprise software for virtualising the content supply chain, the company said in a statement.
PFT has unveiled new technology platform called PFT clear secure screeners, it added.
Prime Focus, listed on both BSE and NSE, is the world's largest media services powerhouse, addressing the challenges faced by the media and entertainment industry to meet the demands of the digital consumers.

Focusing on 'Digital Next' realities, PFT is offering solutions for broadcasters, studios, production houses and networks that will help virtualise the content supply chain and build a connected enterprise in an addressable market of USD 12 billion for media & entertainment-related technology business globally.
"Media and entertainment companies cannot have islands of automation any more," Prime Focus Technologies CEO Ramki Sankaranarayanan said.
PFT's clientele includes Disney, 21st Century Fox-owned STAR TV, Warner Bros. Television Studios, CBS Television Studios, 20th Century Fox Television Studios, Legendary Pictures, Starz Media, Lionsgate, A&E TV Network, Crown Media Family Networks and FX Networks.
"With more than 1.2 million hours of content under management on cloud, the security and integrity of our systems is incredibly important," Sankaranarayanan said.