Digital Domain Holdings Ltd. and Immersive Media are launching a joint venture called IM360. According to the two companies, IM360 plans to produce immersive content and services, including virtual reality content, by combining Digital Domain’s CGI and motion capture expertise with Immersive’s 360-degree video hardware and software. The 360-degree video tech is already being used for live-streaming VR content, and the software can send video to devices including tablets, smartphones and VR headsets.

Visual effects studio Digital Domain provided the CG video for “Evolution of Verse” (pictured below), the first fully CGI rendered, 3D virtual reality film, while Immersive Media has created 360-degree video for companies such as Mercedes-Benz, MuchMusic, National Geographic and Red Bull.

According to the press release, Immersive Media “created the imLIVE platform which allows for the capture, production, stitching and publishing of virtual reality and high-resolution spherical video content, available on-demand or streamed live to mobile devices, VR headsets, broadcast and the Web.”

“Immersive Media‘s 360-degree video systems — which can be used for VR or for more limited forms of immersive video — is based on tech developed for military and intelligence applications,” reports Variety. “Though not a famous name, products using its tech have been quite popular. Its cameras were used for Google Maps’ street view feature. Corporate clients using its tech include Disney ABC, American Express, Converse, Turner Broadcasting and Mountain Dew.”