Namit Malhotra’s DNEG, which is one of the world’s leading visual effects and animation companies, and Sports Ventures Acquisition Corp., a publicly-traded special purpose acquisition company, have entered into a definite business combination agreement which will result in DNEG becoming a public company. The combined company will be renamed DNEG and its shares will likely be listed on the Nasdaq. Namit Malhotra will lead the combined company valued at $1.7 billion after the transaction.
DNEG was formed through the 2014 merger of Prime Focus and Double Negative.