Starwind Studios has announced the acquisition of PresenZ application developer, Belgian visual effects studio Nozon. It is understood that Starwind will pay a total of 7.1 million euros for this studio and its technology, of which 4.6 million euros in cash, the new issuance of 2.5 million euros Starwind B shares.
Nozon introduced PresenZ in 2015 to enable interactive parallax effects for virtual reality movies. Parallax technology is a technology that enhances the viewer's perception of perspective and view depth, thereby enhancing immersion. After joining the wind, Nozon will immediately provide technical support for the wind and become a solid part of the VR ecosystem.
Stars Wind Executive Director Bo Andersson Klin said: "PresenZ technology enables room-scale scanning and virtualization, and almost movie-quality high-quality computer graphics rendering. The parallax capability of this technology will greatly complement the high fidelity of the StarVR Headset and Its 210-degree field of vision.The future of VR is still unclear, but it's easy to imagine that with this technique that enables space scanning and rendering of high-quality CGI graphics, you can render a realistic space, such as Louvre in Paris. Palace or St. Mark's Basilica in Venice, and provides interactive tours. In addition, people can use computer graphics resources from Hollywood movies to create a VR movie experience."
In order to complete the transaction, the Star Wind Board issued 1,084,842 B shares pursuant to the authorization at the annual general meeting. The price of the shares was determined as 23.1 Swedish kronor and the exchange rate was 9.6913. On the basis of complete dilution, the proportion of issued shares in the total share capital was 0.3%, and the number of votes was 0.1%. Upon completion of the settlement, the total number of Star B shares was 218,382,124.
In addition to selling prices, Nozon and Xingfeng have agreed that the founder of Nozon will earn up to 10 years of profitability based on PresenZ's future financial performance, and will take effect immediately after Starwind recovers a $200 million investment. During this period, Star Wind will pay a certain percentage of its revenue based on PresenZ's revenue.
Nozon's founders will have an industry-standard lock-in period with an average allocation of three years. Nozon's current visual effects business will not have a significant impact on Starwind’s revenue and profits. It is reported that Nozon had a turnover of 2.3 million euros in 2015.
The acquisition of Nozon is another step in Star Wind’s recent series of commercial transactions. Star Wind has previously cooperated with Lions Gate, IMAX and Google.