Being all-cash deals, the Mumbai-based company plans to raise $55 million (Rs 2.2 billion) through a FCCB (foreign currency convertible bond) issue to fund the acquisitions.

"The Prime Focus Group is close to reaching final agreement to acquire Post Logic Studios and Frantic Films for a total consideration of $43 million, pending finalisation of deal structure and applicable regulatory and statutory approvals," the company said in a release.

The acquisitions will add to Prime Focus' global footprint. While Post Logic Studios has offices in Hollywood and New York, Frantic Films operates in Los Angeles, Winnipeg and Vancouver.

Prime Focus currently has six visual effects and post-production facilities across India and four facilities in London. "The acquisition will also add rights over 55,000 square feet of prime real estate in the heart of Hollywood, and a talent pool of 200 new staff members," the release said.

Prime Focus will have access to the R&D division of Frantic Films, which develops and markets visual effects software solutions. Frantic Films has worked on top Hollywood films including Fantastic Four: The Rise of the Silver Surfer, Grindhouse, Superman Returns, X-Men 3, Poseidon, Mr. Miagorium's Wonder Emporium and Journey 3-D.

Plans are to continue operations of both Post Logic Studios and Frantic Films as independent facilities, providing both companies access to a talent pool of over 400 visual effects artists worldwide.

Prime Focus can have a three-way pipeline of work and talent pool - India, UK and the US. Taking the acquisition route, Prime Focus bought out UTV's post production business in September this year.

Analysts say the intent to buy the two Us firms fits into Prime Focus's overall plan to scale for larger projects.