The entertainment technology company Group Solotech has acquired the full-service production studio specializing in immersive experiences, XR Studios. As per the agreement, XR Studios will continue to operate as a separate entity and brand building further on its dominating market presence.
Nevertheless, the acquisition will undoubtedly be advantageous for Solotech’s recently created Media and Entertainment Technology (MET) Division, assisting it in creating novel technological solutions at the crossroads of fans and artists, content producers, and online gamers.
The Los Angeles-based XR Studios currently serves numerous high-end clients in different sectors, including TV, music, Fortune 500 companies, and live events.
“XR Studios helps creatives, agencies, artists, and production teams achieve their goals,” said J.T. Rooney, President of XR Studios. “At our core, we are a group of creative teams and producers that see the need for a company that sits in between the technology and the creative to help partners reach the finish line in this exciting new world of extended reality and virtual productions.”
The acquisition will accelerate Solotech and XR Studios’ visions to become the front-running provider of extended reality solutions worldwide.
“In addition to Los Angeles, we plan to open new studios in other thriving markets. Solotech already has an extensive footprint in 18 locations in the US, Canada, and the U.K. Therefore, the new strategically located studios will be supported by strong teams and technology,” said Martin Tremblay, CEO of Solotech.
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