IMAX, the Canadian entertainment company, has purchased media technology firm Ssimwave in a move that promises to help increase its revenues and bolster its streaming portfolio. The deal, reportedly worth upwards of CAD$28 million, includes an estimated $18 million in cash, $2.5 million in stocks, and an additional $4 million in earn-out considerations subject to meeting certain performance and financial objectives.
Ssimwave, a two-time Emmy award winner in the Technology and Engineering category, was founded at the University of Waterloo by CEO Abdul Rehman, CTO Kai Zeng, and CSO Zhou Wang. The company uses artificial intelligence to enhance video quality and reduce bandwidth requirements for streaming services, and boasts an impressive client list which includes Disney, Warner Bros. Discovery and Paramount Global. Currently there are no plans to integrate the company with IMAX; Ssimwave will continue to operate independently as a subsidiary.
The acquisition appears to be part of IMAX’s strategy to deliver its signature video and sound quality to consumers on multiple platforms. The move will help IMAX reach consumers who have shifted their viewing preferences from theatres to the multitude of devices available to movie lovers at home. It will also help the company solidify its position as a leader in the entertainment technology sector, both in the downstream market with consumers and the upstream market with streaming platforms that require Ssimwave’s services.
IMAX’s revenues in the second quarter of 2022 were $74 million, an almost 50% increase over the same period in the previous year.
Ulnar collateral ligament (“UCL”) injuries – tears of damages to the inner elbow ligament - have been a challenge for baseball pitchers of all skill levels since the sport’s inception. Baseball fans…
As digital threats become increasingly sophisticated, protecting Canada’s defence supply chains has never been more important. To address this challenge, the Government of Canada introduced the…
In a strategic move to expand its services to large law firms, BC-based legal technology company Clio has acquired UK-based ShareDo. Founded in 2011, ShareDo is a provider of adaptive work management…
The 2025 TSX Venture 50 list has been released, showcasing the top 50 best-performing companies on the TSX Venture Exchange (“TSXV”) over the past year. This year’s list was compiled based on a new…
In Toronto District School Board v. Meta Platforms Inc. et al. (2025 ONSC 1499), Ontario Superior Court Justice Leiper dismissed a motion to strike a lawsuit commenced by the Toronto District School…
Jump, a French startup, provides freelancers with full-time contracts, giving them the stability of traditional employment while maintaining their independence. Freelancers can manage billing through…
