Kelowna 360 tech startup sells for $100 million
Kelowna's Immersive Media has sold for $100 million. They have worked with Taylor Swift and Conan O'Brien as well as many other major companies around the world.
Image Credit: immersivemedia.com
January 22, 2016 - 4:30 PM
KELOWNA – A local startup tech company has just been sold for $100 million.
Immersive Media was purchased by Digital Domain Holdings, a company that worked on Iron Man 3, the Transformers trilogy, the X-Men franchise and Titanic.
Immersive was founded in 1994 as a digital imaging company specializing in 360 video. They have made videos for Disney ABC, American Express, Converse and Turner Broadcasting. In 2010 the covered the Vancouver Olympic games for NBC and in 2011 partnered with Livestream to produce the world’s first 360 stream of a Black Eyed Peas concert in New York City.
The Immersive website says they also worked on an interactive 360 video featuring Taylor Swift, for which she won an Emmy last year and are partnering with Conan O'Brien to cover this year's San Diego Comic-Con in a live-streaming virtual reality.
The $100 million acquisition makes it the second largest tech deal in Kelowna behind Disney’s purchase of Club Penguin in 2007 for more than $350 million.
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News from © InfoTel News Ltd, 2016