Mumbai: Imax Corporation has signed a memorandum of understanding with Laser Light Engines.

Under the terms of the agreement, Imax plans to make an equity investment in Laser Light Engines which would develop a custom version of its laser light technology for exclusive use in Imax digital projection systems.

Laser Light Engines would additionally provide outsourced research and development for new features designed to further enhance and distinguish The Imax Experience for Imax theatre operators, film studios and moviegoers.

As part of the parties’ contemplated partnership, Laser Light Engines would offer its technology exclusively to Imax for a period of two years and would not offer its technology to any other large format theatre systems for a period of three years.

"Subject to finalizing our diligence, we see Laser Light Engines as an ideal partner for Imax, with a team of experienced executives and engineers who understand how to develop laser technology, but how to apply it and implement it to create a meaningful product and profitable business," said Imax CEO Richard Gelfond.

"We are thrilled to be tapped by Imax Corporation. Laser Light Engines looks forward to designing and developing systems and products that will best harness our high brightness, solid-state illumination laser engines including but not limited to d-cinema, large venue and others," said Laser Light Engines CEO Doug Darrow.