SSIMWAVE, which has emerged as a leader in AI-driven video quality solutions for media and entertainment companies, has been acquired by IMAX Corporation in a $21 million cash and shares deal.
Ontario-based SSIMWAVE enables streaming and broadcast providers to deliver the best possible image on any device for on-demand and live video. It has picked up two Emmy awards for its technology, which is used by Disney, Paramount Global, and Warner Bros. Discovery. A 30-person engineering team has mapped the human visual system to produce a measure of perceptual quality, which its AI-driven software applies to enhance video streams and files in real time.
“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.”
IMAX plans to work with SSIMWAVE to grow its business and product suite, including international expansion. In the long 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,” said Dr Abdul Rehman, CEO and Co-Founder of SSIMWAVE. “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.”
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.