South African media company eMedia Investments, owner of e.tv, has announced the acquisition of a 30% equity stake in Pristine World Holdings, a specialist provider of high-end visual effects (VFX) services to the global film and television industry. The deal, valued at R119 million, marks a strategic move by eMedia to diversify its content creation capabilities and tap into international production markets.
The transaction will be executed through eMedia Investments, with payment directed to Convergence IT Services FZCO, the sole owner of Pristine World Holdings. Convergence is incorporated in the United Arab Emirates, underscoring the international scope of the deal.
In a statement released to investors on Thursday, eMedia highlighted that the investment aligns with its broader strategy to strengthen and diversify revenue streams within its existing media ecosystem. By acquiring a stake in Pristine World Holdings, and by extension, gaining access to its subsidiary MR Factory, a cutting-edge VFX studio, eMedia aims to integrate advanced visual effects technologies into its own production pipeline.
Pristine World’s service offerings include:
- Computer-generated imagery (CGI)
- Motion capture
- Digital compositing
- Animation
These capabilities will enable eMedia to enhance the quality of its content across platforms such as e.tv and eVOD, its video-on-demand service. The investment also positions the company to collaborate on international projects and offer high-end VFX services to external clients.
The timing of the acquisition coincides with eMedia’s ongoing development of its own VFX infrastructure at its Hyde Park studios in Johannesburg. This facility is being built to support real-time visual effects integration, allowing both in-house and third-party productions to benefit from advanced post-production technologies.
eMedia stated:
This investment forms part of eMedia’s strategy to diversify and strengthen its revenue streams within its existing ecosystem. By acquiring a stake in Pristine World (and, in effect, in MR Factory), eMedia gains access to the technology and innovation of MR Factory. It aims to incorporate high-quality visual effects capabilities into its content production pipeline, thus enhancing the quality of its offerings and positioning the eMedia group for international project collaboration.
The transaction is set to become effective on 1 October, pending regulatory approval from the South African Reserve Bank and the finalization of a shareholder agreement between eMedia and Pristine World Holdings.
