IMAX Acquires SSIMWAVE, Provider of AI-Based Video Quality Solutions

IMAX Acquires SSIMWAVE, Provider of AI-Based Video Quality Solutions

IMAX announced the acquisition of SSIMWAVE, a leader in AI-powered 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 to any screen to drive new recurring revenue and expand its global leadership in entertainment technology. .

Using its patented, two-time Emmy(R) Award-winning technology, Ontario-based SSIMWAVE enables broadcast and streaming providers to deliver the best possible picture to any device for video on demand. and live. Four of the ten largest streaming media companies in the world are currently partnering with SSIMWAVE to optimize video, including Disney, Paramount Global and Warner Bros. Discovery. Its 30-person engineering team 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.

With the explosion of video consumption across all platforms, the need for video optimization continues to grow as consumers demand higher resolution including 4K, 8k and new interactive experiences in games, virtual reality , augmented reality and the metaverse. Additionally, leading filmmakers and creators are increasingly demanding solutions to ensure the fidelity and quality of their work on any screen. IMAX will work with SSIMWAVE in the near term to further develop its business and product line, including international expansion. In the longer term, the IMAX technology and post-production teams will work with the SSIMWAVE engineering team to develop new solutions to deliver IMAX-quality video experiences on all platforms, worldwide.

Founded at the University of Waterloo in Ontario, SSIMWAVE’s technology has enhanced the viewing experience of over 150 million subscribers for billions of viewing hours to date. Its technology is protected by 50 patents and patents pending worldwide. SSIMWAVE won a Technology & Engineering Emmy® Award (2020) and a Primetime Emmy® Award for Outstanding Achievement in Engineering (2015). SSIMWAVE was also honored as the Best New Streaming Technology winner at the NAB Show Product of the Year Awards in 2022 and 2021.

Acquisition builds on IMAX’s cross-platform expansion with IMAX Enhanced, which brings the IMAX(R) experience to streaming entertainment with an IMAX-exclusive expanded aspect ratio, digitally remastered content and signature sound . More than 200 IMAX Enhanced titles are available on streaming platforms worldwide, including Disney+, and more than 10 million IMAX Enhanced-certified devices are in the market fordaytime.

Rich Gelfond, CEO of IMAX
SSIMWAVE does groundbreaking work at the intersection of human visual perception and image enhancement technology. By putting the power of our global brand behind its award-winning engineering team and suite of products, IMAX takes a big leap forward in our ability to deliver the best images to any creator, on any screen. In the near term, SSIMWAVE brings new SaaS-based revenue to IMAX and a world-class customer roster that closely aligns with some of our strongest and most successful content partnerships.

Dr. Abdul Rehman, CEO and co-founder of SSIMWAVE
Viewers and content creators expect more from video experiences. By joining IMAX, SSIMWAVE will be even better positioned to preserve creator intent and enable engaging and differentiated viewing experiences for millions of users across all platforms. We are excited to join IMAX and leverage its global reach and expertise as more and more streamers turn to SSIMWAVE to ensure the best viewing experiences while reducing bandwidth costs.

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