IMAX acquires SSIMWAVE for $21M cash and stock; adds AI video quality solutions for streaming

IMAX CORP

Total consideration up to ~$25M: $18.5M cash, $2.5M stock (160,547 shares), plus $4M earnout tied to milestones.
SSIMWAVE clients include Disney, Paramount Global, Warner Bros. Discovery; 30-person engineering team, 50 patents.
Acquisition expected to be accretive in 2023; minimal financial impact in 2022.
All 39 employees continue; certain employees eligible for $2M bonus plan based on milestones.
IMAX sees new SaaS-based revenue and cross-platform expansion for IMAX Enhanced.

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