Mumbai: DNEG, a technology-enabled visual effects, and animation company, and Sports Ventures Acquisition Corp, a publicly-traded special purpose acquisition company have entered into a definitive business combination agreement that will result in DNEG becoming a public company.

Upon closing of the transaction, the combined company will be renamed DNEG and it is expected that its ordinary shares will be listed on the Nasdaq. The combined company will be led by DNEG chairman and chief executive officer Namit Malhotra.

A subsidiary of Prime Focus, DNEG creates visual effects and animation for feature films, television, as well as multiplatform content, with operations based in North America (Los Angeles, Montréal, Toronto and Vancouver), Europe (London) and Asia (Bangalore, Chandigarh, Chennai and Mumbai)

Commenting on this merger, DNEG chairman and CEO Namit Malhotra said, “This transaction creates long-term stability for our teams while also allowing us to exploit the tailwinds in the media and entertainment industry and the explosion in demand for content, which are huge growth drivers for our company. Leveraging our leading technology stack, DNEG is already making great strides into new growth areas such as gaming and content creation partnerships, and we are perfectly positioned to exploit massive new opportunities in the metaverse and the convergence of all forms of content creation.”

DNEG’s work has earned the company six Academy Awards®️ for Best Visual Effects and numerous BAFTA and Primetime EMMY®️ Awards. Current and upcoming DNEG projects on behalf of its Hollywood and global studio and production company partners include Uncharted (February 2022), Death on the Nile (February 2022), Moonfall (February 2022), Borderlands (2022), Stranger Things S4 (2022), Aquaman and the Lost Kingdom (2022), Knives Out 2 (2022), The Last of Us (2022), The Flash (2022), and Shazam! Fury of the Gods (2023).