Prime Focus partners with Canada's Gener8 Media Corp

Prime Focus , following the approval of board of directors on Wednesday, has entered into a licensing and 3D conversion partnership with Canada's Gener8 Media Corp. On the closure of the transaction, Prime Focus will enter into a five-year worldwide exclusive agreement to use Gener8’s 3D technology. Total consideration payable by Prime Focus to Gener8 over the five-year period will range between C$11.5 million and C$16.5 million (₹56 to ₹82 crore). Prime Focus will also enter into a technology services agreement with Gener8, where the latter will provide technical service and support on a cost-recovery basis. "This transaction is subject to customary closing conditions, including obtaining all requisite regulatory approvals," Prime Focus said. Shares of Prime Focus jumped 2.75 per cent at ₹46.95 on the BSE.