US rental firm VER acquires PACE; new group focuses on cinema market
Video Equipment Rentals (VER), is buying PACE and Vince Pace, one of the foremost 3D film and TV technical innovators in the business, is also joining the company.
The terms of the deal were not disclosed but VER said the addition of PACE brings with it CPG technology, including its 2D/3D camera system Fusion which was devised to create Avatar. PACE and two other divisions of VER, Fletcher Camera and VER’s digital cinema division, will be joined together to form Cineverse.
In a statement VER said: “With a highly regarded, worldwide reputation for innovation, PACE has closely supported a broad range of historic entertainment achievements including three of the last five Oscars for Best Cinematography. In addition to their widely known CPG Group 3D tool set, PACE also brings many of their exciting advancements to 2D production such as their Slate2Screen methodology. The addition of the PACE team, led by Vince Pace, brings a unique combination of creative and technical expertise to the formation of Cineverse.”
Last year VER acquired US film and digital camera rental business Fletcher (excluding Fletcher’s Chicago-based sports division).
VER added: “Further strengthening their strategic commitment to the film and television industry, VER announces the addition of cutting edge motion imaging and production tools innovator, PACE to VER’s global platform. This move complements VER’s recent acquisition of Fletcher Camera & Lenses by integrating PACE’s ingenuity, Fletcher’s service and VER’s logistics, inventory and worldwide reach to create CINEVERSE, a unique and powerful full-service film and digital equipment rental partner.”
Vince Pace said: “The creative and technical landscape of entertainment is dynamic which makes the ability to adapt and integrate emerging technologies a key for production success. Technologies such as higher resolution capture and display, specialty lensing, LED lighting, stereoscopic and high frame rate acquisition require a cohesive workflow as they evolve into production tools.
“This takes a multitude of resources, technical disciplines, and most importantly, experienced and highly invested people. Our new entity Cineverse has those by the score — and we can’t wait to make an impact and see the captivating images our clients will create,” said Pace.