V-Nova completes the acquisition of Parallaxter Srl, the company behind the PresenZ XR technology

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Parallaxter are the XR experts behind the PresenZ technology and this acquisition will greatly expand V-Nova’s portfolio of IP and technologies in VR/XR and gaming, as well as further strengthen its position in the data and video compression industry.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, November 29, 2023
Information
Tags: 
Software, Technology, Audio, Video, Data Management, V-NOVA, Acquisition, Lumières Award, Computer graphics, Special, IP, Investment, Immersion, XR, Data compression, Freedom, VR, Life, Video game
Geotags: 
NORTH AMERICA, UNITED STATES, UNITED KINGDOM, EUROPE, BELGIUM
⚠ generated by AI ↴
Organisation: 
V-NOVA, PARALLAXTER
Summary
Key Points: 
  • Parallaxter are the XR experts behind the PresenZ technology and this acquisition will greatly expand V-Nova’s portfolio of IP and technologies in VR/XR and gaming, as well as further strengthen its position in the data and video compression industry.
  • V-Nova PresenZ, a Lumiere Award winning format that combines Parallaxter's PresenZ technology and V-Nova's point-cloud compression, is set to revolutionize storytelling in VR.
  • V-Nova PresenZ is distributed at scale also to stand-alone XR devices thanks to MPEG-5 LCEVC enhanced pixel streaming.
  • "We are thrilled to welcome our partner Parallaxter and its PresenZ technology to the V-Nova family," said Guido Meardi, CEO of V-Nova.


V-Nova, a leading provider of data compression solutions, announces the full acquisition of Parallaxter Srl, completing its prior investments in the company and incorporating it into the V-Nova group. Parallaxter are the XR experts behind the PresenZ technology and this acquisition will greatly expand V-Nova’s portfolio of IP and technologies in VR/XR and gaming, as well as further strengthen its position in the data and video compression industry.

V-Nova PresenZ, a Lumiere Award winning format that combines Parallaxter's PresenZ technology and V-Nova's point-cloud compression, is set to revolutionize storytelling in VR. It offers users cinematic photorealism and 6DoF for real-time navigation in pre-rendered scenes, breaking free from static viewpoints and ensuring full immersiveness. V-Nova PresenZ is distributed at scale also to stand-alone XR devices thanks to MPEG-5 LCEVC enhanced pixel streaming.

The format dovetails with standard Computer Graphics and Special FX production workflows, significantly cutting content production costs, and it also allows for the re-mastering of existing asset libraries. Additionally, it supports the integration of pre-rendered photorealistic assets with real-time-rendered interactive elements and after-effects, opening new possibilities for interactive immersion.

"We are thrilled to welcome our partner Parallaxter and its PresenZ technology to the V-Nova family," said Guido Meardi, CEO of V-Nova. “The new combined format is set to redefine digital entertainment, offering fully immersive, lifelike experiences with six degrees of freedom (6DoF) that revolutionize traditional visual storytelling. Collaborating with top studios on several productions, we're gearing up to introduce this groundbreaking experience to consumers shortly. Our aim is to bring the future of digital entertainment to life, opening new horizons in how stories are told and experienced.”

"We are excited to join forces with V-Nova," said Tristan Salome, CEO of Parallaxter. “V-Nova’s data compression technology and Parallaxter’s unique solution for volumetric immersion are complementary technologies that will enable us to push the boundaries of immersive visuals and deliver higher quality digital experiences at scale. Imagine being immersed in Hollywood-grade CGI, experiencing lifelike parallax, occlusions, reflections, and textures, at full display frame rate."

Eubelius CVBA advised on the transaction.

About V-Nova

V-Nova is committed to unlocking higher quality digital experiences at scale. Its technologies, including MPEG-5 LCEVC and VC-6, are based on the innovative use of AI and parallel processing, improve data, video, imaging, and point-cloud compression, and have been granted international standard status by MPEG, ISO and SMPTE. V-Nova’s relentless investment in R&D has built a portfolio of over 900 international patents, along with a range of software products and solutions. More about V-Nova: www.v-nova.com

About Parallaxter

Parallaxter SRL, founded in 2014, is a Belgian XR software company that developed and patented PresenZ, the revolutionary Volumetric Movie point cloud format. It allows the viewer to experience unprecedented immersion comfort compared to "standard" 360-degree movies and unprecedented offline ray-tracing visual fidelity compared to real-time rendering. The viewer truly feels like being inside the movie, thanks to its six degrees of freedom approach that creates a ‘cloud’ of data points where the viewer is free to move.

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