NEW YORK — Imax Corp., the company known for its giant movie screens, said it has signed a memorandum of understanding to make an equity investment in Laser Light Engines, in exchange for use of an exclusive custom version of the company’s laser light technology.
Laser Light Engines, which makes laser-driven light sources, will also provide outsourced research and development for new IMAX features.
The companies are still working out terms of the deal. Financial details were not disclosed.
Laser Light will offer its technology exclusively to IMAX for two years and not offer its technology to other big-screen companies for three years.
Imax shares fell 20 cents to close at $13.50.