Avccording to published reports, Kodakwill receive a down payment of more than $10 million, plus ongoing royalties.
IMAX said Kodak’s laser projection technology and patents will enable the company to deliver the highest-quality digital content available to IMAX film-based screens larger than 80 feet and to dome theatres. The technology also will allow IMAX to distribute content with greater efficiency to the company’s global theatre network.
The company expects to introduce the new laser-projection technology by the second half of 2013, providing its largest screen and dome customers – which have previously only had access to analog film – with a full array of digital content. Kodak engineers will work closely with IMAX engineers over the next 18 months to assist with the implementation of the technology into the company’s product family.