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MUMBAI:
Prime Focus, an integrated post-production and visual effects
service company, is eyeing more acquisitions in the UK market
with deal sizes in the $2 million upward range.
"We
are open to the idea of buying post production companies which
have specialisation in certain areas so that we can consolidate
our presence in the UK," says VTR Plc finance director
Anshul Doshi.
The
company has spent 3 million pounds (Rs 243 million) on equipment
upgradation while restructuring its UK operations, adds Doshi.
Prime
Focus's first priority, however, is to buy a company in the
US. Sources say it has shortlisted three firms but is yet
to conclude a deal.
Earlier,
Prime Focus had acquired a 55 per cent stake in VTR Group.
The idea was to bring in work and set up a pipeline in the
UK.
The
integration with the UK operations has been complete and it
is being rebranded as Prime Focus London in a couple of weeks,
says Doshi.
"We
have bagged two new feature film projects which are self-funded
UK productions," he adds, while refusing to disclose
further details.
VTR
has a turnover of 20 million pounds (around Rs 1.62 billion).
"Our target is to achieve 26 million pounds over the
next 2-3 years," says Doshi.
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