Moving iMage Technologies (NYSE: MITQ), a digital cinema technology company, said it had reached an exclusive three-year purchase agreement with Alamo Drafhouse Cinemas for Barco SP4k laser projectors for both new theaters and existing technology upgrades.
Fountain Valley-based Moving iMage did not reveal details of the transaction.
The SP4k models of the Barco Series 4 family bring native 4K resolution, higher contrast and enhanced uniformity into the movie theater. The Barco Active Image Management includes patented technology to guarantee sharp, consistent image quality over time.
Shares in Moving Image fell 2.8% after the announcement to $1.22 apiece for a market cap of $13.3 million.