Through its Assurance Export business, Bpifrance is to contribute to the HDR EclairColor technology development budget for a four-year period.
Paris (January 10, 2018) – Ymagis Group (FR0011471291, MAGIS, PEA-PME, TECH 40), the European specialist in digital technologies for the film industry, announces the financial support of Bpifrance Assurance Export, acting on behalf of the French State, for an overall investment budget of EUR €6M to help accelerate the development of the EclairColor HDR solution in the United States and Canada.
Bpifrance will provide Ymagis Group with prospecting insurance to cover of 65% of the risks incurred up to a maximum of EUR €1.5M annually for 4 years. This commitment will enable Ymagis Group to substantially increase EclairColor’s commercial expansion and brand strategy in North America.
With EclairColor, Ymagis Group provides a HDR (high dynamic range) solution accessible to all cinemas, from arthouse to the largest multiplexes, enabling them to significantly improve projection quality with richer colours, greater brightness and definition, more depth of field and more density for a unique cinema experience. After starting its development a few months ago in Europe with over 120 cinema screens currently equipped and 59 feature films mastered to date, Ymagis Group will now be able to step up the development of EclairColor with new financial resources and target fast deployment on the North American continent.
“After financing our EclairColor technology with our own funds, the support granted by Bpifrance today marks an important stage in getting our HDR technology process adopted in North America, a key market with its 40,000 cinema screens,” explains Jean Mizrahi, co-founder and Chief Executive Officer of Ymagis Group. “Thanks to a dedicated team in Los Angeles, we will be stepping up our efforts to deploy our brand and our HDR solution, working closely with Hollywood and its creative & technical teams. By creating this proximity, we will be giving EclairColor the right conditions in which to flourish, with the aim of making our technology a new standard for the motion picture industry.”
“We are delighted to support, with the French State, Ymagis Group in this new strategic step. Enabling one of the flagship French companies in digital technologies for the film and TV industries to offer an innovative solution which significantly improves the cinema experience in a market the size of the United States is a source of pride for us,” concludes Christophe Viprey, Chief Executive Officer of Bpifrance Assurance Export.
The list of cinemas equipped with EclairColor HDR and EclairColor-mastered films is available on the website http://www.eclaircolor.com EclairColor is a registered trademark of Ymagis Group.
About Ymagis Group
Ymagis is an European leader in advanced digital technology services for the cinema industry. Founded in 2007, the Group is headquartered in Paris and has offices in 25 countries with more than 735 employees. Our core business is structured around three main units: CinemaNext (exhibitor services: sales and field services, software solutions, customer service/NOC and consulting), Eclair (content services: post-production, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation) and Virtual Print Fee (VPF) for finance solutions. For more information, please connect to www.ymagis.com, www.cinemanext.com or www.eclair.digital