Panavision acquired post-production house Light Iron on Wednesday in a move that will allow the Woodland Hills camera manufacturer to offer a complete suite of digital entertainment services from pre-production to distribution.
Light Iron was founded in 2009 and has two facilities in Hollywood and one in New York. It has developed a mobile post-production hardware and software called Outpost for feature films, episodic television and commercials shot with digital cameras. Recent credits include “Gone Girl,” “The Expendables 3,” HBO series “Veep,” and commercials for The Gap and Stella Artois beer.
Panavision manufactures cameras, lenses, cranes and other filming equipment used in feature films and television. It rents the equipment at 68 locations worldwide. The company said it plans to offer Light Iron’s hardware at all of its locations as a one-stop solution for filmmakers, who will be able to film, edit and send dailies using the mobile set-up.
“This union uniquely positions us both to serve the industry through collaboration, advanced engineering and optimized services – all over the world,” said Panavision Chief Executive Kim Snyder in a prepared statement.
Light Iron will operate as a subsidiary of Panavision following closing of the deal but retain its brand name. Light Iron CEO Michael Cioni will retain his position and report to Snyder. No job cuts or facility closures are expected.
Both Panavision and Light Iron are privately held companies and details of the transaction were not released.