To learn more, visit .ĭouble Negative (DNEG) is one of the world's leading providers of visual effects and animation for feature film and television, with facilities in London, Vancouver, Mumbai, Los Angeles, Chennai and Montreal. "At DNEG, we always try to use the opening of a new studio as a way to move things forward and modernise the way that we operate," said Graham Jack, CTO, DNEG. "In Montreal, partnering with a forward thinking co-location facility such as eStruxture has given us the opportunity to experiment with new virtualisation techniques for artist workstations, which we anticipate will provide a great deal of flexibility and significantly reduce operating costs."ĭNEG's new studio is creating a significant number of new jobs in Quebec. Community members like DNEG have chosen eStruxture as the home for their render and storage farm so they can interconnect with partners, service providers and other members of the VFX ecosystem. That exchange requires very high capacity networks, and is made easier by co-locating and interconnecting at a central facility. VFX companies often require the ability to interconnect their systems to exchange film footage and add special effects to scenes. Montreal is home to a strong and growing visual effects and film production community. "We were able to accommodate DNEG's significant power density demands, something that is unique to the most powerful and computationally intense applications like those used by visual effects firms." "We are thrilled DNEG has selected eStruxture as its data center provider," said Todd Coleman, President of eStruxture. 10, 2018 /CNW Telbec/ - Double Negative ("DNEG"), a leading international visual effects company, has chosen eStruxture Data Centers as its data center provider for the mission critical IT infrastructure at its new studio in Montreal. The deal is expected to close in the first half of this year.MONTREAL, Jan. The combined company will be led by DNEG Chief Executive Officer Namit Malhotra and will list on the Nasdaq. It had raised $230 million through an IPO in January last year. Sports Ventures was focused on finding a target in the sports, media and entertainment sectors. For the company going public, a SPAC merger serves as an alternative to a traditional IPO. SPACs are publicly-listed companies formed with the intention of merging with a private company at a later date. The company was looking to list in London through an initial public offering (IPO) in 2019, according to a media report. It has studios in England, Canada, the United States and India.ĭNEG had earlier considered other traditional options to go public. The deal with Sports Ventures Acquisition Corp (AKIC.O) will provide DNEG with up to $400 million in gross proceeds, including $168 million in private investment in public equity, or PIPE.įormerly known as Double Negative, London-based DNEG was acquired by India's Prime Focus Ltd (PRFO.NS) in 2014. The company, which has also worked on popular movies "Inception", "Avengers: Endgame" and "Mission Impossible: Fallout", has received six Oscar awards for visual effects. Jan 25 (Reuters) - DNEG, the Oscar-winning Hollywood visual effects studio behind Christopher Nolan's "Tenet", said on Tuesday it would list in New York through a merger with a special purpose acquisition company in a deal valuing the combined entity at about $1.7 billion.
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