Sony Pictures picks up 50% stake in FrameFlow

CHENNAI: US-based Sony Pictures Imageworks (SPI) has acquired a 50.1 per cent stake in FrameFlow, a visual effects and animation studio in the city, for about five million dollars.

As part of the deal, FrameFlow will become Imageworks India and will work with Sony Pictures Imageworks' main production facility in Culver City, California.

"Imageworks has taken 50.1 per cent equity in FrameFlow and will be investing USD five million for the stake. We expect this would translate to about USD 20 million in revenue in three to five years," Jenny Fulle, Executive Vice President, Production, Imageworks told a press meet.

Imageworks will invest in infrastructure, technology and training in the new entity. Imageworks India also plans a significant growth in its current talent base of 80 employees. It would be relocating to a larger office in Chennai with a seating capacity of 300, Hitesh Shah, CEO of FrameFlow and the Co-Managing Director of Imageworks India said.

As part of Sony Pictures Imageworks, Imageworks India will continue to provide visual efects and animation services.