Sample Digital Holdings, LLC (trading as DAX), a US-based provider of cloud-based production workflow and media asset management applications to the entertainment industry, has been acquired by DAX PFT, LLC, a US-based subsidiary of Prime Focus Technologies Private Limited (PFT).
PFT is the technology arm of Prime Focus Limited, a media and entertainment services company. PFT and Prime Focus are based in India.
DAX PFT will acquire all the assets of DAX, for a base consideration of $9.1 million in a uniquely structured performance linked transaction. The assets will be acquired for an upfront payment and with balance payable over three years such that cash flows from the North American operations will support the payment.
Announcement (March 11, 2014):
DAX has signed a definitive asset purchase agreement to be acquired by DAX PFT.
DAX has been backed with the investment from US-based venture capital firm Collateral Guaranty, LLC.