- IMAX ( NYSE: IMAX ) said Thursday it acquired SSIMWAVE , which provides AI-driven video quality solutions for media and entertainment firms, in a cash-and-stock deal.
- IMAX acquired SSIMWAVE for $18.5M in cash and $2.5M in stock with additional earnout of $4M, subject to achieving certain operating targets.
- The acquisition is expected to be accretive in 2023 and will have minimal financial impact in 2022.
- Ontario-based SSIMWAVE enables streaming and broadcast providers to deliver the best possible image on any device for on-demand and live video.
- Current partners of SSIMWAVE include Disney, Paramount Global and Warner Bros. Discovery.
- IMAX will work with SSIMWAVE in the near term to expand its business and product suite.
- IMAX's technology and post-production teams will work with SSIMWAVE's engineering team to develop new solutions to deliver IMAX-quality video experiences across platforms.
For further details see:
IMAX acquires streaming technology firm SSIMWAVE in cash-and-stock deal