MAM
Prime Focus to form virtual reality and advertising JV in India
MUMBAI: Prime Focus Limited (Prime Focus) has informed the bourses that its board of directors at its meeting held on April 27, 2016, inter-alia, considered and approved the following:
Divestment of 30 per cent stake in Digital Domain-Reliance, LLC (DD-Reliance), to the existing holder of the remaining 70 per cent stake in DD-Reliance, which is ultimately wholly-owned by Digital Domain Holdings Limited (DDHL), whose shares are listed on the main board of The Stock Exchange of Hong Kong Limited .
Entering into a proposed 50:50 JV with DDHL to carry on Virtual Reality and Advertising businesses in India on terms as may be agreed between the parties
At a total consideration of US$ 55million worth of shares in the Hong Kong listed DDHL based on an issue price of HK$0.596 per share of which US$30 million is for stake sale.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
