With this acquisition, Solotech’s recently created Media and Entertainment Technology (MET) division will take another important step towards realizing its vision of develop new technological solutions at the crossroads of three realities: fans and artists, content producers and online gamers. A world-renowned leader in the live production industry, Solotech saw the growing need for live streaming and virtual production services, and quickly adapted its offering to support its customers and seize new opportunities.
Situated in Los Angeles – at the heart of the entertainment industry – XR Studios serves high-end customers across multiple segments such as TV, Music, Fortune 500 companies and Live Events. XR Studios has pioneered innovative performance such as Katy Perry’s Finale of American Idol and Video Music Awards 2020 from MTV. Other notable clients include Billie Eilish, Leon BridgesAmazon, Verizon, Twitch and many more.
“XR Studios helps creatives, agencies, artists, and production teams achieve their goals,” said JT Rooney, president of XR Studios. “At heart, we are a group of creative teams and producers who see the need for a company that sits between technology and creation to help partners reach the finish line in this exciting new world of reality. scope and virtual productions,” says Rooney. The acquisition of XR Studios also brings in key talent and a technical director, Scott Millar on board. Millar has worked on several large scale international AR projects, with a particular focus on installation, engineering and general AV technology. He was instrumental in creating the extended reality workflow, collaborating with software teams such as Disguise, Notch, Unreal Engine and Touch Designer, making Millar a key expert in this technology.
This transaction will accelerate the path of Solotech and XR Studios’ visions to becoming the leading provider of extended reality solutions worldwide. “In addition to Los Angeles, we plan to open new studios in other booming markets. Solotech already has an extensive footprint in 18 locations across the United States, Canadaand so in the UK, the new, strategically located studios will be supported by strong teams and technology,” says Tremblay.
Other new members of the MET division, such as recently acquired Waveform, will add to the strength and impact of XR Studios and the entire division. “The venture with XR Studios will fill in the missing piece of the puzzle and be the 3rd pillar of our MET division, adding comprehensive virtual production and mixed reality solutions to our premium live streaming and esports offering,” declared Martin Tremblay.
The XR industry is expected to grow at a compound annual growth rate (CAGR) of 30.6% over the next 6 years1, Solotech and XR Studios are on the road to success. “We look forward to this new venture and are definitely on the lookout for even more additions to position our MET division at the absolute top, so stay tuned! We are extremely excited about this opportunity; this acquisition has been possible thanks to the continued support of our shareholders Claridge, Desjardins Capital and Investissement Québec,” concludes Martin Tremblay.
Founded over 40 years ago, Solotech is a global leader in audiovisual and entertainment technology with 18 strategic locations in Canada, United States and in the UK. With an inventory of more than 300 renowned manufacturers, Solotech is the single source for audio, video, lighting, rigging, softgoods, control and collaboration solutions and services. The company is internationally recognized for its expertise in live productions and systems integration in various markets, including music, sports, business, culture and education, and is fully supported by three major shareholders: Claridge, Desjardins Capital and Investment Quebec. Solotech employs 1,360 professionals in its offices located in Los Angeles, Vegas, Nashville, Miami, Orlando, Pensacola, London, birmingham, Manchester, Toronto, Montreal, Halifax, Ottawa, Calgary, Quebec CitySaguenay, Macau and hong kong.
Learn more about: solotech.com
About XR Studios
XR Studios is a leading digital production company specializing in immersive technology for entertainment. Known for producing Extended Reality (XR) and Augmented Reality (AR) workflow solutions, XR Studios executes innovative experiences for some of the most renowned artists and brands around the world. From concept to completion, XR Studios is a leading full-solutions provider led by a network of creatives and industry leaders at the heart of mixed reality technology for broadcast, live and virtual productions.
Learn more about xrstudios.live
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