WINNIPEG — Frantic Films has sold its visual effects division to Prime Focus, one of India’s leading post-production and effects companies.
‘It’s a great opportunity for us,’ says Ken Zorniak, COO and a founding partner at Frantic Films. ‘In the long term, it will help us grow and expand our presence in North America. We will get bigger shots and more shows.’ Prime Focus is a publicly traded company with six visual effects and post-production facilities across India and four facilities in London.
Zorniak says Prime Focus approached Frantic with the offer, as the Indian company was seeking to expand into North America. He will not disclose the dollar value of the deal, announced on Wednesday.
Frantic’s Winnipeg, Vancouver and L.A. shops will remain open as independent facilities. No layoffs are expected. Frantic CEO Jamie Brown will continue to lead the company’s live-action operation, which is not a part of the acquisition.
Zorniak and Frantic’s other founding partner, Chris Bond, will run the North American operations of Prime Focus, and will remain shareholders in Frantic Films.
During its 10-year run, Frantic has created effects for numerous Hollywood movies, including X-Men: The Last Stand, Superman Returns, Across the Universe and Fantastic Four: Rise of the Silver Surfer. But by teaming up and pooling resources with Prime Focus, Zorniak says the Canadian shops should be able to increase their workload and offer clients an expanded slate of post services.
‘Being a midsized special effects firm is a tough spot,’ admits Zorniak. ‘You need a certain scale to do larger shots, but that requires expensive overhead. It’s a challenge. We have done well; we focused on quality and R&D and proprietary tools, and increased our revenue per shot over the years. But being part of Prime Focus will allow us more opportunities. We can do cross-over and package deals with their post houses.’
Zorniak says that, in the short term, operations at Frantic will continue as usual, but he foresees expansion for its offices. Prime Focus has more than 400 employees in India.
Prime Focus also just announced it has bought Post Logic Studios, an L.A.- and New York-based digital intermediate, color science and post company.