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Prime Focus Technologies (PFT), the technology arm of Mumbai based Prime Focus, one the largest media services provider has announced its plans to expand operations in Bangalore.
With over 500 employees at its existing Bangalore facility, which is company’s global R&D and software development hub for the company,
PFT is now all set to open a new facility at RMZ Ecospace with an additional 500 seat capacity. The new centre will cater to major overseas clients including MNET, Warner Bros., IFC and A&E TV Network.
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Already PFT has a facility in Bangalore, which is a global research and software development centre spread over three offices with 500 staff. With the plan to expanding new facility, company will hire around 500 software professionals during the fiscal 2014-15.
For this new business expansion initiative, company has invested around $2 million in infrastructure.
“The stupendous global success of our CLEAR Media ERP suite has led to the imminent need to expand our teams focused on R&D, software development and delivery. Availability of top notch talent with proven experience across the software product development lifecycle is why we are expanding in Bangaluru,” said Ramki Sankaranarayanan, Founder and CEO, Prime Focus Technologies.
Company earns around 30% revenues from overseas business while rest comes from Indian market. Over 70% revenues comes from annuity business.
PFT contributes 19% revenue to its parent company Prime Focus Limited, which reported consolidated Rs8349 million revenue in 12M FY14.
“The M&E industry offers interesting possibilities for die-hard software professionals. Studies have confirmed that by deploying Media ERP, broadcast operations & engineering costs as a percentage of revenue can be lowered by 5%. In a study we commissioned with E&Y, our total addressable market was pegged $12.9 billion by 2018. That is a lot of demand to fulfil, and possible only with innovation and world class R&D,” said Ganesh Sankaran, Co-Founder and COO, Prime Focus Technologies.
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