Broadcast News

Bookmark and Share

VTR Acquires Machine Effects For £2m

VTR has acquired Machine Effects Limited, the visual effects company founded by John Lockwood and Steve Street, for £2m.
The acquisition strengthens VTR’s offer in the UK visual effects market and underpins the continued international expansion of the Prime Focus Group of companies.
Machine Effects Limited is a leading visual effects business offering a full range of services to film and broadcast. Its impressive list of credits includes 'Fred Claus', 'Elizabeth: The Golden Age' and 'Harry Potter and the Prisoner of Azkaban'. Both John Lockwood and Steve Street will remain with the business and continue to work with VTR plc.
Namit Malhotra, Chairman of VTR plc and Prime Focus Group (PFG), said: "This acquisition adds to the group’s global breadth, strengthening our visual effects capabilities and helping to grow our offer. Machine Effects is a strong brand with an impressive track record in the industry and I am pleased that it will be joining VTR plc and in turn part of the growing group of companies in the Prime Focus Group."
Neil Lane, Managing Director, VTR plc said: "Steve and John are experts in the visual effects market and will compliment Prime Focus London’s existing capabilities in that area. We are excited to have them joining our team and look forward to working together."
John Lockwood said of the acquisition: "Machine Effects integration into the group will allow us to concentrate on what we do best whilst participating in the future success of VTR plc."
Steve Street added: "We are thrilled to be joining the Prime Focus Group of companies and to have access to its global resources in London, India, Canada and the United States."
The acquisition has been funded by an inter-group loan from Prime Focus Limited (PFL), which is a majority shareholder in VTR.
VTR and PFL entered into a loan agreement on 21st January 2008 which made available a £1,000,000 credit facility to VTR.

Top Related Stories
Click here for the latest broadcast news stories.

MBC Group Announces Upcoming Release Of Sukkar
MBC GROUP, the largest and leading media company in the Middle East and North Africa (MENA) region, has announced the upcoming release of its first-ev
A1 Telekom Austria Group Expands Its Use Of Actus Digital
Actus Digital has announced that A1 Telekom Austria Group, a leading operator in Austria, is expanding its use of the company’s intelligent monitoring
BT Group Unveils New Pioneering Technology
BT Group has unveiled a pioneering new technology, designed to be a more reliable, quality-focused and sustainable way of delivering live content over
Broadcast Management Group Deploys JVC Solutions
With offices in each of the top five major cities, Broadcast Management Group (BMG) has spent nearly two decades helping clients across the globe achi
RTI Teams Up With The AiN Group
RTI has announced its partnership with the AiN Group. AiN Group is a national buying community of over 300 best-in-class dealers throughout the US tha
Qligent Expands Sinclair Broadcast Group's Vision Deployment
Three years into a successful enterprise-wide Qligent Vision rollout, Sinclair Broadcast Group will apply Qligent's QoS, QoE and compliance monitoring
Astera Appoints Group CEO
Astera has announced that Carl-Johan Sköld will be joining the Astera team as Group CEO. Having acted as a consultant for the German-based lighting fi
Palmer Digital Group Partners With Samsung And IoTecha
Palmer Digital Group, Samsung, and IoTecha Corp. just released a new EV charging kiosk that combines Samsung's OH series displays, IoTecha's advanced
The Patio Selects Palmer Digital Group
Palmer Digital Group, a full-service supplier and installer of custom indoor and outdoor digital kiosks, display enclosures and drive-thru digital men
Moments Lab Teams Up With CIS Group And Glookast
Moments Lab (formerly Newsbridge) has partnered with CIS Group and Glookast to provide an archive digitisation and indexing service that uses Moments
MBC GROUP has appointed Samar Akrouk as Managing Director of MBC STUDIOS. A seasoned production veteran, Akrouk – who has dedicated nearly three decad
Danmon Group To Focus On Media Technology Advancement
Danmon Group will promote its expertise in the broadcast, governmental, educational and corporate sectors at IBC 2023. Exhibiting on stand 8.B60, the
VTR Group Announces 'Centres Of Excellence' On Rebranding As Prime Focus UK
VTR Group plc has released details of the progress it is making to re-position as a global post production market leader, following the recent purchas
New CEO Of Prime Focus India Appointed
Global Visual Entertainment Services group Prime Focus has announced that its President and CEO, Ramki Sankaranarayanan, has been appointed CEO of Pri
PLASA Focus Leeds Announces 2023 Programme
PLASA Focus Leeds returns to the Royal Armouries from 9-10 May, and alongside the show floor, visitors can attend back to back seminars and workshops,