Su­mav­i­sion in­vests in French VR firm VideoStitch

China Daily (Canada) - - BUSINESS - By FANFEIFEI fanfeifei@chi­nadaily.com.cn

Su­mav­i­sion Tech­nolo­gies Co Ltd, China’s lead­ing provider of video de­liv­ery, has in­vested $300,000 in France’s VideoStitch, which is en­gaged in of­fer­ing vir­tual re­al­ity video pro­duc­tion so­lu­tions.

It said the strate­gic co­op­er­a­tion will speed up the ap­pli­ca­tion of the world’s ad­vanced VR tech­nolo­gies in China’s broad­cast­ing, TV and video sec­tors.

“We are com­mit­ted to de­vel­op­ing the new gen­er­a­tion of video com­mu­ni­ca­tion tech­nol­ogy,” said Wang Zhe, gen­eral man­ager of Su­mav­i­sion Tech­nolo­gies’ in­vest­ment depart­ment.

Wang added that the use of VR tech­nol­ogy as a vis­ual ex­pe­ri­ence would change the ways peo­ple re­ceive in­for­ma­tion from all dimensions.

“We are al­ways pay­ing at­ten­tion to this field,” Wang said.

Su­mav­i­sion’s stock rose 0.49 per­cent to 8.26 yuan on Wed­nes­day on the Shen­zhen Stock Ex­change.

Founded in 2000, Su­mav­i­sion is mainly en­gaged in the re­search, de­vel­op­ment, pro­duc­tion and tech­ni­cal ser­vices of dig­i­tal tele­vi­sion soft­ware and hard­ware prod­ucts. It says it is a lead­ing en­ter­prise in pro­mot­ing China’s progress in so called three-net­work con­ver­gence, which aims to com­bine ca­ble tele­vi­sion, telecom­mu­ni­ca­tions and the internet into one seam­less chain.

Zheng Haitao, the founder and pres­i­dent of Su­mav­i­sion, said the most cru­cial part of the broad­cast­ing and tele­vi­sion sec­tor now lies in live broad­cast, and live VR was a very mean­ing­ful area for them.

“We fo­cus not only on VR de­vices and tech­nolo­gies, but also the pro­duc­tion of VR con­tent,” Zheng said.

VideoStitch fo­cuses on the pro­duc­tion of VR video con­tent, es­pe­cially bring­ing live 360-de­gree video con­tent cre­ation soft­ware to con­tent pro­duc­ers all over the world.

Founded in 2012, the com­pany has of­fices in Paris and Sil­i­con Val­ley in the United States, and has over 1,000 cus­tomers in 45 coun­tries, in­clud­ing Face­book Inc, Google Inc and YouTube. Its core team con­sists of VR video ex­perts from the US and France.

The VR mar­ket is grow­ing rapidly and a num­ber of Chi­nese en­ter­prises are mov­ing into the sec­tor, in­vest­ing in hand­sets and re­lated de­vices.

Gold­man Sachs Group Inc has es­ti­mated that film, tele­vi­sion and en­ter­tain­ment and live video will be an im­por­tant ap­pli­ca­tion field in the sec­tor, along with the games in­dus­try, with its mar­ket

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