The theatre-technology company will pay $18.5 million in cash and $2.5 million in stock, plus a possible $4 million in future payments if Ssimwave meets certain metrics. The startup will keep its name, office and staff following the acquisition. (The Logic)
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The theatre-technology company will pay $18.5 million in cash and $2.5 million in stock, plus a possible $4 million in future payments if Ssimwave meets certain metrics. The startup will keep its name, office and staff following the acquisition. (The Logic)
Talking point: Ssimwave’s technology, which improves image quality for video streaming, is used by massive studios including Disney and Paramount. The company, founded at the University of Waterloo, has won two Emmy awards for its technology. The acquisition plays into Imax’s plans to expand beyond movie theatres, as cinemas take a back seat to gaming and at-home streaming. “The need for video optimization continues to grow as consumers demand higher resolution including 4K, 8K and new, interactive experiences across gaming, VR, AR and the metaverse,” the company wrote in its press release.
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