Panavision has reached an agreement to acquire post-production technology innovator Light Iron.
The acquisition leverages the strengths of the entertainment industry's most respected designer, manufacturer and rental provider of high precision camera systems with the leader in digital workflow solutions, to offer turnkey technology solutions from pre-production through delivery.
With facilities in Los Angeles and New York City, Light Iron will operate as a wholly owned subsidiary of Panavision, maintaining its executive leadership and talent. Light Iron's popular Outpost Mobile Post Systems will be available at Panavision rental facilities worldwide.
"This acquisition is an opportunity to leverage the strength and innovation of the Panavision brand with the entrepreneurial spirit of Light Iron," says Kim Snyder, CEO and president of Panavision. "By joining forces, we can better serve our clients, providing a full portfolio of creative choices and an efficient, seamless experience."
Michael Cioni, CEO of Light Iron, says Panavision is an ideal partner to extend Light Iron's international reach. "A long-standing commitment to quality and client service has made Panavision one of the most trusted brands in the world,” he says. “The fusion of our two companies, and the creation of new optimized tools, will mark the beginning of a new era in digital acquisition and delivery on a global scale."
Light Iron was Cioni founded in Los Angeles in 2009 with his brother Peter Cioni and a core team of experts. Embracing emerging digital tools for content creation from its very beginning, the company has grown into a leading provider of mobile dailies, archival services, offline editorial rental, finishing and delivery. Through both their suite of Outpost systems and premium DI services, Light Iron supports high-resolution 6K acquisition formats and UHD delivery.
"Panavision and Light Iron are dedicated to providing clients the innovation they need to succeed at the intersection of art and science," adds Snyder. "Together, we are poised to offer creative clients a deeper and more progressive level of support and services across all market segments. This union uniquely positions us both to serve the industry through collaboration, advanced engineering and optimized services - all over the world."
Light Iron www.LightIron.com