Co-founder of Nexus Venture Partners Naren Gupta stated, "Prana's focus on high-quality animation and VFX is a cost-effective business model that has made us a favorite partner of leading studios around the world. Acquisition of Rhythm & Hues will allow us to offer an even broader platform to our partners. Prana and its founders are continuing to innovate the way high-quality creative activities should be performed. I remain a huge fan of Prana and its management team."
Peter M. Gilhuly of Latham & Watkins, Andrew Walter of Evolution Media Capital, and PJ Shapiro of Ziffren, Brittenham and Branca represented Prana Studios, Inc. in the negotiations. Brian L. Davidoff of Greenberg Glusker represented Rhythm & Hues.
Rhythm & Hues is a global production powerhouse for the creation of visual effects and animation for Hollywood movies. Among its 145 screen credits are "Life of Pi," "The Golden Compass" and "Babe," Academy Award winners for Achievement in Visual Effects, (in 2012, 2008, and 1995 respectively). R&H is also the recipient of four Scientific and Technical Awards from the Academy of Motion Picture Arts and Sciences (AMPAS). With headquarters in El Segundo, California, and additional facilities in Mumbai & Hyderabad, India; Kuala Lumpur, Malaysia; Vancouver, Canada; and Kaohsiung, Taiwan - R&H Films offers filmmakers a dynamic creative resource with a vast array of technology and talent.
ABOUT PRANA STUDIOSPrana Studios, Inc. is an artist-driven, full-service 3-D animation and visual effects studio with production offices in Los Angeles, CA, USA and Mumbai, India. The studio develops content and creates state of the art visual imagery for full-length feature animated films, high quality visual effects for live action and hybrid films, short-form media, and special venue attractions. Prana works in collaboration with major Hollywood studios and independent production companies throughout the world. The studio's creative skills range from visual and story development to final post, including complete CG and stereoscopic animation and image creation. Prana is a U.S. company founded in 2003 by Arish Fyzee, Kristin Dornig and Pankaj Gunsagar, and is backed by an outstanding group of investors who include Anand Mahindra (Mahindra & Mahindra), Mukesh Ambani (Reliance Industries), Naren Gupta (Nexus Capital), and Ram Shriram (Sherpalo). Jeffrey A. Okun is Sr. Vice-President of Visual Effects.Prana Studios, Inc. is an anchor venture investor and partner in Kidaptive, an innovative educational technology company dedicated to smart storytelling on iPads. The curriculum is developed in collaboration with Stanford University researchers to create entertaining and adaptive content that helps children learn. Current projects include the upcoming "Planes" theatrical release for the Walt Disney Company ( August 2013), the animated feature film "Legends of Oz" (Spring 2014 release), "Pourquoi j'ai (pas) mange mon Pere" (Pathe 2014), Percy Jackson 2 (20th Century Fox), and "Saving Santa" (Gateway Films 2013). Major credits include the Academy Award Submitted "Secret of the Wings," "Tinkerbell and the Great Fairy Rescue" and "Tinkerbell and the Lost Treasure" (Walt Disney Studios), " Hitchcock" (20th Century Fox), "The Watch" (20th Century Fox), "Tron Legacy" (Walt Disney Studios), "Transformers, Dark of the Moon" (Paramount Pictures), "Thor" (Paramount Pictures), "Tinkerbell" (Walt Disney Studios), "The Chubb-Chubbs Save Xmas" (Sony Pictures Imageworks/Sony Pictures Animation), "Hoodwinked" (The Weinstein Co.), Unstable Fables (The Weinstein Co./The Jim Henson Co.), among others. Media Contact: Sarah Rothman42West Sarah.Rothman@42West.net; (917) 623-6060 Julie Cloutier42West Julie.Cloutier@42West.net; (305) 587-6321 SOURCE Prana Studios