MEDIA AND BROADCASTING
IMAX Corporation | September 23, 2022
IMAX Corporation ( NYSE: IMAX) announced it has acquired SSIMWAVE Inc., a leader in AI-driven video quality solutions for media and entertainment companies. The move marks a significant expansion of IMAX's strategy to deliver the highest quality video images on any screen — to drive new, recurring revenue and grow its global leadership in entertainment technology.Through its patented, two-time Emmy(R) Award winning technology, Ontario-based SSIMWAVE enables streaming and broadcast providers to deliver the best possible image on any device for on-demand and live video. Four of the world's top-ten streaming media companies currently partner with SSIMWAVE to optimize video, including Disney, Paramount Global, and Warner Bros. Discovery. Its 30-person engineering team has mapped the human visual system to produce one of the most accurate measures of perceptual quality, which its AI-driven software applies to enhance video streams and files in real time. The acquisition is expected to be accretive in 2023 and have minimal financial impact in 2022.
SSIMWAVE is doing revolutionary work at the intersection of human visual perception and image enhancement technology. By putting the power of our global brand behind their award-winning engineering team and product suite, IMAX takes a big step toward a new horizon in our ability to deliver the best images for any creator, across every screen, said Rich Gelfond, CEO of IMAX. In the near-term, SSIMWAVE brings to IMAX new, SaaS-based revenue and a world-class client roster that tightly aligns with some of our strongest, most successful content partnerships.
With the explosion in video consumption across platforms, 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. Additionally, leading filmmakers and creators increasingly demand solutions to ensure the fidelity and quality of their work on any screen. IMAX will work with SSIMWAVE in the near term to further grow its business and product suite, including international expansion. Longer-term, IMAX's technology and post-production teams will work with SSIMWAVE's engineering team to develop new solutions for delivering IMAX-quality video experiences across platforms, around the world.
"Viewers and content creators expect more from video experiences. By joining IMAX, SSIMWAVE will be even better positioned to preserve creators' intent and enable engaging, differentiated viewing experiences to millions of users across platforms, We're excited to join IMAX and tap into its global scale and expertise as more streamers turn to SSIMWAVE to ensure the best viewing experiences while reducing bandwidth costs."
-Dr. Abdul Rehman, CEO and Co-Founder of SSIMWAVE
Founded at Ontario's University of Waterloo, SSIMWAVE's technology has improved the viewer experience of more than 150 million subscribers over billions of viewing hours to date. Its technology is protected with 50 patents and patents pending globally. SSIMWAVE has won a Technology & Engineering Emmy® Award (2020) and a Primetime Emmy® Award for Outstanding Achievement in Engineering (2015). SSIMWAVE was also honored as a Best New Streaming Technology winner in the NAB Show Product of the Year Awards in both 2022 and 2021.
"SSIMWAVE boasts a brilliant team of engineers, technologists, and academics obsessed with image quality and on the leading edge of Ontario's thriving tech community; the similarities between this company and IMAX when we acquired it nearly 30 years ago are uncanny," continued Gelfond. "We look forward to scaling SSIMWAVE's business and taking it in never-before-imagined directions around the world just as we did with IMAX's game-changing projection technology."
The acquisition builds on IMAX's cross-platform expansion with IMAX Enhanced, which brings The IMAX Experience(R) to streaming entertainment with IMAX-exclusive expanded aspect ratio, digitally remastered content, and signature sound. More than 200 IMAX Enhanced titles are available across streaming platforms worldwide, including Disney+, and more than 10 million IMAX Enhanced certified devices are in the market today.
Under the terms of agreement, IMAX acquired SSIMWAVE for $18.5 million in cash and $2.5 million in stock with additional earnout consideration of $4 million, subject to achieving certain operating performance and financial objectives.
SSIMWAVE's Video Experience Automation Platform brings the power of the human eye to entire video delivery chains to help streaming services assess video quality at scale, minimize quality drop-offs, and reduce distribution expenses and video assurance costs. Its SSIMPLUS® suite of products – Live Monitor, VOD Monitor and Video Quality (VQ) Dial – have also helped the streaming industry address hard-to-solve problems such as banding, A/V sync issues, HDR content distribution, and low-quality sources. SSIMWAVE technology has earned multiple Emmy® Awards as well as an NAB Product of the Year Award.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2022, there were 1,694 IMAX theater systems (1,610 commercial multiplexes, 12 commercial destinations, 72 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX Enhanced™, IMAX nXos® and Films to the Fullest®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
Logitech G | September 22, 2022
Logitech G, a brand of Logitech (SIX: LOGN) (NASDAQ: LOGI) and leading innovator of gaming technologies and gear, announced the launch of the much-anticipated Logitech G CLOUD Gaming Handheld, a purpose-built gaming device for cloud gaming. The new device includes precision gaming controls, a full 1080p HD screen, amazing battery life, and a lightweight, sleek form factor that enables players to enjoy libraries of PC and console games from the cloud in a fun, new way.“Cloud gaming is a super-exciting new way to play games. I love that you can access game libraries from anywhere,said Ujesh Desai, vice president and general manager of Logitech Gaming. What we wanted to do was challenge ourselves to build a device that was perfectly optimized for cloud gaming. This meant precision controls – similar to a high-end Xbox controller – a large HD screen, amazing battery life and lightweight design so players can enjoy long gaming sessions, without any compromises.
The Logitech G CLOUD Gaming Handheld was developed in partnership with Tencent Games and supports cloud streaming from Xbox Game Pass Ultimate and NVIDIA GeForce NOW. Players can also stream local games from an Xbox console with the Xbox app, their Steam games via SteamLink or download remote play apps, video streaming, and more via the Google Play Store.
“Xbox Cloud Gaming was built to enable players around the world to access Xbox games whenever they want, on the device of their choosing,At Xbox we’ve been on this journey to bring the joy and community of gaming to more people, and we’re excited to see Logitech G launch a cloud-gaming device that will delight players with Xbox games in more places.”
-Catherine Gluckstein, vice president Xbox Cloud Gaming at Microsoft.
NVIDIA GeForce NOW is an open cloud gaming service that streams over 1,400 PC games, including over 100 that are free-to-play,” said Phil Eisler, vice president and general manager of GeForce NOW cloud gaming at NVIDIA. “It’s great to see Logitech G optimize the experience so gamers can enjoy their favorite PC games in an incredible new way.
The Logitech G CLOUD Gaming Handheld enables gamers to play anywhere with Wi-Fi. Key features include:
Comfortable Play All Day - With a 12+ hour battery life and weight of only 463g, players can enjoy extended gaming sessions.
Full HD - The large 7-inch full 1080p HD touchscreen touts a 60Hz refresh rate and a full-screen 16:9 gaming experience that is unique to handhelds.
Precision Gaming Controls - Performance and feedback rival the best controllers with haptics, gyroscope, and remappable controls.
Sustainability - All Logitech G products are certified carbon neutral, meaning that the carbon impact of the product has been reduced to zero due to Logitech’s investment in carbon offsetting and removal projects. The packaging of this product is also made from paper sourced from FSC®-certified forests and other controlled sources.
The Logitech G CLOUD Gaming Handheld will be unveiled at Logitech’s inaugural Logi Play event, a landmark event celebrating gaming and streaming culture. Learn more about the event here.
Pricing and Availability
The Logitech G CLOUD Gaming Handheld is expected to be available on LogitechG.com and at Amazon and Best Buy in North America in October of 2022 for a suggested retail price of $349.99. If you pre-order now, the Logitech G Cloud is $299.99 for a limited time. For more information, please visit our website, our blog or connect with us @LogitechG.
About Logitech G
Logitech G, a brand of Logitech International, is the global leader in PC and console gaming gear. Logitech G provides gamers of all levels with industry-leading keyboards, mice, headsets, mousepads and simulation products such as wheels and flight sticks - made possible through innovative design, advanced technologies and a deep passion for gaming. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech G at logitechG.com, the company blog or @LogitechG. Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at logitech.com.
CJ 4DPLEX | September 21, 2022
CJ 4DPLEX, the world's leading producer of premium film formats and cinema technologies, and Cinemark, one of the world's largest and most influential movie theatre companies, announced they have signed an agreement to bring the expanded immersive ScreenX technology to select Cinemark locations in the U.S. Together, they will convert auditoriums in six Cinemark theatres in Texas and California by the end of the year, with plans for a potential expansion.ScreenX is the world's first multi-projection cinema with an immersive 270-degree field of view. ScreenX expands specially selected sequences of a film onto the left and right-side walls of the auditorium, surrounding audiences with extended imagery that naturally fills their peripheral vision and immerses them into the narrative of the film. ScreenX works closely with filmmakers and studios to ensure the highest quality presentation of the film in select key scenes with exclusive story-enhancing imagery produced by CJ 4DPLEX's VFX studio in Korea.
The deal comes at an exciting time for the immersive format, as it is rapidly growing its footprint in the U.S. and abroad. Recent ScreenX films include Marvel Studios' Doctor Strange In the Multiverse of Madness and Thor: Love and Thunder, Warner Bros.' Elvis, Sony's Bullet Train and Paramount's summer blockbuster Top Gun: Maverick.
"Cinemark is a world-class exhibitor with high performing locations all across the U.S. and Latin America We are thrilled to partner with the Cinemark team to bring their moviegoers our Super Premium ScreenX experience, which is uniquely differentiated from what they can stream at home or on a mobile device. "
-Don Savant, CEO, CJ 4DPLEX Americas
Adding ScreenX auditoriums to select theatres builds on Cinemark's commitment to offering our moviegoers a truly immersive, cinematic experience that cannot be replicated at home, said Damian Wardle, Cinemark EVP of Theatre & Technology Operations. "We look forward to expanding our big screens and offering our guests a unique way to see Hollywood's newest content.
It's an exciting time for the company as we continue to supply blockbuster tentpole films and work with filmmakers who are recognizing the format's unique ability to tell their story using ScreenX as their canvas, said Jong Ryul Kim, CEO of CJ 4DPLEX.
ScreenX theatres have grown dramatically since being introduced in 2012. In total, ScreenX is available worldwide in over 380 locations, across 38 countries.
ABOUT CJ 4DPLEX
CJ 4DPLEX is a leading, next-generation cinema technology company, headquartered in Seoul with international offices in Los Angeles and Beijing. The company has created innovative film technologies for theaters worldwide that include 'ScreenX', '4DX', and '4DX Screen' for consumers to experience films in ways that were never before possible. CJ 4DPLEX is a part of the CJ Group conglomerate that also includes entertainment powerhouses CJ CGV, the fifth largest theater chain in the world, and CJ ENM (CJ Entertainment & Media), who produced the Academy Award®, Golden Globe® and SAG Awards winning film, "Parasite". CJ 4DPLEX was named Most Innovative Company of 2017 and 2019 in Live Events by Fast Company, and the technology has been recognized with Silver at the Edison Awards in the Media and Visual Communications-Entertainment category in 2015 and 2018. ScreenX is the world's first multi-projection cinema with an immersive 270 degree field of view. By expanding the image beyond the frame and onto the walls of the theatre, ScreenX draws you into the story on the main screen and immerses you in a virtual reality like setting with cinema quality resolution. To date, there are over 381 ScreenX auditoriums around the world in 38 countries.
4DX provides moviegoers with a multi-sensory cinema-going experience, allowing audiences to connect with movies through motion, vibration, water, wind, snow, lightning, scents, and other special effects that enhance the visuals on-screen. Each 4DX auditorium incorporates motion-based seating synchronized with more than 21 different effects and optimized by a team of skilled editors. To date, there are over 784 4DX auditoriums around the world, spanning over 69 countries. 4DXScreen is a powerful combination of our super premium immersive theatre technologies of ScreenX and 4DX in one auditorium, creating a never-before-seen experience for cinemagoers. To date, there are 42 4DXScreens installed around the globe.
About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark's circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 521 theatres in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the industry-leading exhibitor-launched subscription program and the first to reach the one-million-member milestone; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/