IMAX Just Spent $21 Million On Astonishing Acquisition

According to Hollywood Reporter, IMAX bought streaming technology company SSIMWAVE for $18.5 million in cash and $2.5 million in stock, with a possible additional $4 million if operating targets are met. This is a staggering amount of money, but it could make IMAX extremely profitable in the streaming industry. SSIMWAVE uses artificial intelligence and research to provide streaming services with the best sound and video quality on every device.

IMAX CEO Richard Gelfond said the acquisition of the Canadian startup will allow the company to offer the highest quality service while maintaining profitability. In addition, the use of SSIMWAVE streaming technology will be a huge advantage for filmmakers. “Filmmakers will be very excited about this acquisition because we’re going to help make sure that when their content is released on alternative platforms, it’s the best it can be,” Gelfond said.

The acquisition of SSIMWAVE is a great strategic move as the startup has already partnered with Disney+, HBO Max, Paramount+ and NBCUniversal. It’s hard not to imagine that other companies such as Amazon and Netflix are keeping a close eye on the business transition away from IMAX and the possibilities of SSIMWAVE technology.

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