The marriage between Showscan Corp. and Omni Films Intl. Inc. is off.
On Thursday, the two companies terminated a letter of intent to merge.
Omni, a Sarasota, Fla., company that makes ride simulation equipment, confirms it remains open to continued discussions with Showscan leading to a possible merger. Showscan, which is based in Culver City, produces ride films.
Omni Films said it will continue to offer its motion simulation equipment to Showscan on preferred terms, and expects the two companies will continue to explore cooperative ventures.
The deal, which was announced in mid-May, had long been rumored to be foundering on disagreement over future strategies.
“Our board couldn’t agree with them on a combination,” said Jim Sorensen, Showscan’s senior VP and chief financial officer. “It wasn’t dollars and cents. The two companies couldn’t agree on long-term goals.”
Still, said Sorensen, “We’re continuing to talk about cooperative ventures,” but a merger is definitely not in the cards.