MONTREAL, QUEBEC: Sensio Technologies, a specialist in 3D technology, is acquiring the intellectual property of Algolith, a Montreal-based video processing company. The purchase agreement comprises Algolith’s image-processing technology as well as the four patents and nine pending patents in its portfolio.
Sensio described Algolith’s technology as “100 percent-compatible and complementary” to its own, and that it would “enable the company to boost development of current and future projects, and extend its range of solutions for 3D delivery.”
Sensio’s chief technology officer, Étienne Fortin, said “Algolith’s noise-reduction and compression-artefact-reduction algorithms are among the best in the industry. With the advent of connected TVs, low bitrate, noisy video will be widespread and we foresee a big demand for this capability from our current customers in the consumer electronics market.”
Said Nicholas Routhier, Sensio president and CEO: “Combining Algolith’s video-format-conversion and noise-reduction technologies with Sensio 3D will uniquely position us to service the broadcast market as well. Other key technologies will come into play further down the line, enhancing our state-of-the-art offering to all markets.”
The precise value of the transaction was not given, though Sensio said it came to less than “seven figures.” The deal is expected to close today, with the “adjunct of key personnel, bringing significant expertise in the field of image and video processing as well as their in-depth knowledge of the purchased IP.” Immediate
Sensio said it plans to support the combined IP and software portfolios of the two companies. Sensio trades on Canada’s TSX Venture Exchange. Share price around mid-day today was C$1.20.
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