LOS ANGELES and NEW YORK – Panavision has reached an agreement to acquire Light Iron.
The acquisition leverages the strengths of the entertainment industry's designer, manufacturer and rental provider of high precision camera systems with the leader in digital workflow solutions, to offer turnkey technology solutions from pre-production through delivery.
With facilities in Los Angeles and New York City, Light Iron will operate as a wholly owned subsidiary of Panavision, maintaining its executive leadership and talent. Light Iron's popular OUTPOST Mobile Post Systems will be available at Panavision rental facilities worldwide.
"This acquisition is an opportunity to leverage the strength and innovation of the Panavision brand with the entrepreneurial spirit of Light Iron," says Kim Snyder, CEO and President of Panavision. "By joining forces, we can better serve our clients, providing a full portfolio of creative choices and an efficient, seamless experience."
Michael Cioni, CEO of Light Iron, notes that the fusion of the two companies, and the creation of new optimized tools, will mark the beginning of a new era in digital acquisition and delivery on a global scale.
Light Iron was founded in Los Angeles in 2009 by brothers Michael Cioni and Peter Cioni, along with a core team of experts. Embracing emerging digital tools for content creation from its very beginning, the company has grown into a leading provider of mobile dailies, archival services, offline editorial rental, finishing and delivery. Through both their suite of OUTPOST systems and premium DI services, Light Iron supports high-resolution 6K acquisition formats and UHD delivery.