Digital Domain Media Group (NYSE: DDMG) and Prime Focus World NV have signed an agreement whereby Digital Domain Media Group (DDMG) will license its 3D conversion technology to Prime Focus World. The agreement settles and terminates the patent infringement litigation action filed by DDMG against Prime Focus World in 2011. Under the agreement DDMG and Prime Focus World will collaborate on visual effects and 2D-to-3D conversion services work for feature films. “Ultimately this was a lawsuit between two companies that enjoy working together, so we’re happy to put it behind us and resume our prior relationship with Prime Focus - one of performing high-quality VFX work collaboratively,” said John Textor, CEO and Chairman of DDMG. “We understand that Prime Focus has its own significant 3D technology and we are pleased to report, as this license suggests, that they respect ours as we respect theirs.” “Prime Focus is dedicated to delivering the highest level of conversion to its clients. The technology that we’ve licensed from Digital Domain Media Group enhances our own robust proprietary processes and increases our efficiency for our customers. We look forward to continuing our work with DDMG on their most important VFX projects,” said Namit Malhotra, CEO and Chairman of Prime Focus World. Through the Digital Domain Stereo Group, DDMG owns the six U.S. patents that represent the original commercially feasible computerized process for converting 2-dimensional filmed imagery into 3-dimensional stereoscopic imagery. The DDSG patents provide fundamental coverage of any modern conversion process that involves rotoscoping (i.e., computerized, semi-automatic and semi-automatic conversion with roto), and relate to any conversion process that includes horizontal image displacement/transform. In 2011, DDMG made its patent portfolio available to select companies in the broader industry through a studio-friendly licensing program. Prime Focus joins Samsung Electronics Co., Ltd., which licensed DDMG’s technology in 2011 for use in its consumer electronics, components, services and software businesses.
About Digital Domain Media GroupDigital Domain Media Group (DDMG: NYSE) leverages its expertise in digital visual effects (VFX) and computer-generated (CG) animation across a group of interrelated businesses. At its foundation is Digital Domain Productions (DDPI), an award-winning digital production company founded in 1993. This leading provider of visuals has contributed to more than 90 major motion pictures, including Titanic, the Transformers series, Pirates of the Caribbean: At World’s End and TRON: Legacy, hundreds of commercials, and recently created the virtual likeness of rapper Tupac Shakur for Dr. Dre’s show at the Coachella Valley Music Festival. Mothership, a DDPI subsidiary, focuses on creating advertising, entertainment and branded content from concept to completion, across multiple media platforms. DDMG, its work and its employees have been recognized with numerous awards, including seven from the Academy of Motion Picture Arts and Sciences. The company is building on its success in VFX to participate as a co-producer in major productions and is currently co-producing the upcoming live-action sci-fi feature film Ender’s Game, as well as virtual likenesses for Elvis Presley that will be jointly owned by CORE Media Group and DDMG. DDMG also converts two-dimensional (2D) imagery to three-dimensional (3D) imagery and holds key patents in this area. The company is also applying its CG expertise to produce original, family-friendly animated feature films at its subsidiary Tradition Studios. The first movie, The Legend of Tembo, is in pre-production and two more features are in development. The company’s education subsidiary, the Digital Domain Institute, sets a new standard in digital media education through a pioneering public-private partnership with The Florida State University College of Motion Picture Arts. DDMG is expanding its worldwide footprint of the highest quality visual effects and animation at the lowest possible cost through global partnerships in India and China. The company has studios in Los Angeles, San Francisco, Florida, Vancouver, Mumbai and London, and is currently establishing studios in Beijing and Abu Dhabi. http://www.ddmg.co ABOUT PRIME FOCUS WORLD Prime Focus World is a leading global technology services company providing comprehensive creative and technical services to the film, broadcast and advertising industries. Providing 2D to 3D conversion, visual effects and animation services for major media and entertainment companies, the Company has brought its expertise to many wide release Hollywood films, including Men in Black 3, Star Wars: Episode One - The Phantom Menace, Harry Potter and the Deathly Hallows: Part 2, Narnia: The Voyage of the Dawn Treader, Green Lantern, Immortals, Transformers: Dark of the Moon and Avatar. Prime Focus World has global operations with a presence in key centers of creative content production - Los Angeles, New York, London, Vancouver and Mumbai. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50345009&lang=en