July 14, 2010 / 4:20 PM / 10 years ago

UPDATE 1-IMAX to invest in Laser Light Engines

* To get Laser Light’s custom version for 2 years

* Financial details of transaction not disclosed

July 14 (Reuters) - Big-screen movie company IMAX Corp IMX.TO IMAX.O said it will invest in Laser Light Engines, a developer and manufacturer of laser-driven light engines, to enhance its projection technology.

The Canadian company did not disclose the financial details of the equity investment.

Under the terms of the agreement, Laser Light Engines will develop a custom version of its laser light technology for exclusive use in IMAX digital projection systems.

Laser Light Engines will also provide research and development for new features at IMAX.

Laser Light Engines will offer its technology exclusively to IMAX for two years and will not offer its technology to any other large format theatre systems for three years.

IMAX shares were down 20 Canadian cents at C$13.50 during afternoon trade Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Don Sebastian) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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