Samsung pumps $15 million into L.A.-based 3-D company MasterImage
Tired of watching 3-D movies in theaters? How about watching 3-D films and sporting events on your smart phones -- without the glasses?
That's the vision of L.A.-based MasterImage 3D, which announced Tuesday that it had received a $15-million investment from Samsung Ventures, a division of the South Korean consumer electronics giant that recently introduced its own 3-D television sets.
The infusion will allow MasterImage to develop new 3-D technology for mobile phones, tablets, PCs and movie theaters, the company said in a statement.
Founded in Seoul, South Korea, in 2004, MasterImage employs 100 people, inluding 20 in L.A. Another 40 to 50 workers will be hired in L.A. as a result of the new investment, said Chairman and CEO Younghoon Lee, delivering a welcome boost to Southern California's post-production sector, which has been hit hard by job losses in recent years.
"Samsung’s investment supports our strong belief that we’ve just begun to realize the impact 3-D will have on consumers,” Lee said in statement. “We are committing this investment to innovation — specifically, to advancing our 3-D solutions for cinema, smart phones, tablets, and larger auto-stereoscopic displays. We will continue to build toward our vision of 3-D on every screen."
Ilseok Yoon, managing director of Samsung Ventures America, said, “Our investment in MasterImage 3D is consistent with our strategy to work closely with established market leaders. The company was early to market with auto-stereoscopic 3-D mobile displays and has built a significant business in 3-D cinema."
-- Richard Verrier