LOS ANGELES—Audiovisual tech provider Solotech has announced it has acquired XR Studios, a full-service agency specializing in extended reality and augmented reality technology for live broadcast and virtual productions.
Financial terms of the deal were not disclosed.
Founded over 40 years ago, Solotech is a provider of audiovisual and entertainment technology with 18 locations in Canada, the U.S. and the U.K.
The transaction will accelerate plans by Solotech and XR Studios to become the leading provider of extended reality solutions across the globe, the companies said.
"In addition to Los Angeles, we plan to open new studios in other thriving markets. Solotech already has an extensive footprint in 18 locations in the U.S. Canada, and the U.K. therefore, the new strategically located studios will be supported by strong teams and technology," said Martin Tremblay, president and CEO of Group Solotech.
XR Studios will continue to operate as a separate entity and brand.
Located in Los Angeles XR Studios serves high-end clients in such areas as TV, music, Fortune 500 companies, and live events. XR Studios pioneered innovative productions for such performances as Katy Perry's “American Idol” finale and MTV's 2020 Video Music Awards. Other notable clients include Billie Eilish, Leon Bridges, Amazon, Verizon, Twitch, and many more, the companies said.
"XR Studios helps creatives, agencies, artists, and production teams achieve their goals," says J.T. Rooney, president of XR Studios. "At our core, we are a group of creative teams and producers that see the need for a company that sits in between the technology and the creative to help partners reach the finish line in this exciting new world of extended reality and virtual productions.”
The acquisition of XR Studios also brings key talent and chief technical officer, Scott Millar onboard, Solotech said. Millar has worked on multiple, large scale international AR projects, with a thorough focus in installation, engineering, and general AV technology. He has been instrumental in the founding of the extended reality workflow, collaborating with software teams such as disguise, Notch, Unreal Engine, and Touch Designer, making Millar a vital expert of this technology, the companies said.
The deal marks an ongoing expansion of Solotech's recently created Media and Entertainment Technology (MET) Division, which has also acquired Waveform.
"The venture with XR Studios will fill the missing piece of the puzzle and be the 3rd pillar of our MET Division, adding complete virtual production and mixed reality solutions to our high-end live streaming and eSports offering," said Tremblay.
