Management Team To Buy Digital Projection from IMAX
Manchester, 20th November 2001

More than two years after entertainment technology giant IMAX purchased Digital Projection International (DPI), a management team led by Managing Director, Brian Critchley is buying it back.

The move comes during a year or so of financial difficulty for IMAX, which has been hit by the financial woes of film exhibitors which, even with movie attendance being healthy, have had a terrible time retaining profitability.

It appears to be a winning situation for both companies, allowing IMAX to focus on their core business and DPI on theirs.

"What we'll gain is the ability to have our management team focus DPI resources on areas that will provide us and our customers with the best opportunities," explained Mike Levi, president of Digital Projection Inc. "What we may miss is the value of the IMAX brand as it carries a tremendous amount of credibility, but so does ours. They have a lot of good contacts in film and entertainment and we have been able to benefit from those introductions. Our relationship with IMAX remains very positive."

Much emphasis was placed on how the move helps both companies get back to their core businesses, which are quite different. For DPI, those are rental and staging, systems integration, and creating display products for vertical markets such as churches, command and control, simulation, boardrooms, lecture halls, government, military, home cinema, education and retail displays.

Nick Cottiss, international sales and marketing director said: "In terms of operations, it really is business as usual. We're forming some strong international relationships. We have a good team in place and we don't envisage changes in that structure when we become independent."

All DPI associates have been advised of the pending transaction and company management says the reaction has been very positive.

DPI shipped their first product in April of 1997. They were purchased by IMAX in September, 1999.

The deal will close by December 31. The terms of the pending transaction were not disclosed.