Kelowna's Immersive Media sold to Hollywood for $100M
Deal the biggest in the Okanagan since 2007's Club Penguin sale
An Okanagan company specializing in spherical immersive video experiences has been bought by a Hollywood FX firm for $100 million.
Kelowna's Immersive Media was founded in 1994 and has created immersive video experiences for companies as diverse as Disney and Mountain Dew.
They covered the 2010 Vancouver Olympic Games for NBC, streaming The Today Show live as a 360 degree webcast.
In 2011, they streamed a 360 degree live cast of a Black Eyed Peas gig from New York.
The company that paid $100 million for Immmersive Media is Digital Domain Holdings, parent company of Digital Domain — an FX giant with studios in California and Vancouver.
Last year, Immersive Media partnered with Digital Domain to create IM360, producing content for brands such as Mercedes-Benz.
Co-founded by Avatar director James Cameron, Digital Domain has produced FX for a plethora of big budget Hollywood movies, including Cameron's Titantic, Pirates of the Caribbean, the X-Men series and Furious 7.
The deal is the largest in the Okanagan since Disney bought Club Penguin in 2007.