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March 31, 2013

Deal Alert: Prana Studios buys visual effects company Rhythm & Hues

Prana Studios, backed by Mukesh Ambani and Anand Mahindra, has won the bid to purchase bankrupt Rhythm & Hues, which recently won the visual-effects Oscar for Life of Pi, pipping other contenders such as BSE-listed Prime Focus and China's Jian Yamning. Prana, with a big presence in Mumbai and Los Angeles, will acquire the company through its new operating company 34x118 Holdings. 

Credited with editing many award-winning films, R&H filed for bankruptcy under US law's Chapter 11 in February.  

From the Venture Intelligence PE Deal database: Sherpalo Ventures and Nexus Ventures had invested in Prana Studios in Jan-07 and Dec-07, respectively. Source: Economic Times
 
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