Kelowna's Immersive Media Acquired for $100 Million
Kelowna's Immersive Media has been acquired by Digital Domain Holdings.
Digital Domain Holdings Limited is the parent company of Visual Effects studio Digital Domain, the creative force behind some of Hollywood’s biggest blockbusters, including Iron Man 3, the Transformers trilogy, Maleficent, the X-Men franchise and Titanic.
With the acquisition valued at $100 million, this transaction is the largest deal to come out of the Okanagan since Club Penguin was acquired by Disney in 2007.
Founded in 1994, Immersive Media is a digital imaging company specializing in spherical immersive video. Immersive Media creates fully immersive video experiences for companies like Disney ABC, American Express, Converse, Turner Broadcasting and Mountain Dew.
In 2010, Immersive covered the Vancouver Olympic Games for NBC, most notably webcasting The Today Show live for two hours daily in full 360-degrees.
In 2011, Immersive Media partnered with Livestream to produce the worlds 1st live 360 stream of the Black Eyed Peas Concert from Central Park, New York City.
Last year Digital Domain Holdings and Immersive Media entered into a joint venture to create IM360.
Immersive Media was represented by BC's Whiteboard Law in the transaction.
Another Community Futures success story!
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