In a bid to expand its virtual production services, Solotech has acquired XR Studios. As part of the strategic plan, XR Studios will continue to operate as a separate entity and brand, progressing its strong trajectory in market leadership.
With this acquisition, Solotech’s recently created Media and Entertainment Technology (MET) Division will make another significant step towards realising its vision of developing new technological solutions that are at the crossroads of three realities: fans and artists, content producers, and online gamers.
Located in Los Angeles, XR Studios serves clients in multiple segments such as TV, music, Fortune 500 companies, and live events. XR Studios pioneered innovative performances such 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, among others.
“XR Studios helps creatives, agencies, artists, and production teams achieve their goals,” said XR Studios President, J.T. Rooney. “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. 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.
This transaction will accelerate the path of Solotech and XR Studios’ visions to become the leading provider of extended reality solutions across the globe. “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 Solotech President and CEO, Martin Tremblay.
Other new members of the MET Division, such as recently acquired Waveform, will build the strength and impact of XR Studios and the overall Division. “The venture with XR Studios will fill the missing piece of the puzzle and be the third pillar of our MET Division, adding complete virtual production and mixed reality solutions to our high-end live streaming and esports offering,” said Tremblay.
“We are looking forward to this new venture and are definitely on the watch for even more additions to position our MET Division at the absolute top, so stay tuned! We are extremely happy about this opportunity; this acquisition has been possible with the continuous support of our shareholders Claridge, Desjardins Capital and Investissement Québec,” concluded Tremblay.