MUMBAI: Sony has sold its digital intermediate, mastering and restoration company - Colorworks - to Deluxe Entertainment Services Group Inc.

Additionally, Deluxe and Sony Pictures Digital Productions Inc (SPDP) have also entered into a multimillion dollar agreement for post services wherein Deluxe will perform DI, mastering and other services for Sony.

As part of the transaction, Deluxe acquired certain assets from Colorworks Inc. Deluxe will operate from a 14,000-square-foot facility, which includes one of the industry's leading 4K pipelines. The facility is housed in the studio's Stage 6 and features real-time, 4K processing in a full-digital workflow for top filmmakers from across the industry.

Deluxe, which has been a leader in media and entertainment services for film, video and online content, continues to expand the depth and reach of its exceptional artistry and digital capabilities.

Through Deluxe's relationship with Sony Pictures, the facility will offer state-of-the-art color grading, mastering, restoration and related services for film and TV projects by studios, networks, independent producers and filmmakers worldwide.

"This agreement is a milestone in our strategic efforts to link our industry-leading artisans arm in arm with world-class content creators," said Deluxe CEO David Kassler. 

"This is yet another example of progress in our relentless pursuit of excellence for our key customers," added Deluxe vice chairman Cyril Drabinsky.

An official statement from Sony read, "Sony Pictures has made the business decision to close its Colorworks facility. We are pleased to enter into a services agreement with Deluxe to offer state-of-the-art color grading, mastering, restoration and related services for film and TV projects by studios, networks, independent producers and filmmakers at Sony Pictures.”