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In an alliance between rivals, Deluxe and Technicolor have announced a binding agreement to create a new digital cinema joint venture, Deluxe Technicolor Digital Cinema.

The joint venture will specialize in theatrical digital cinema mastering, distribution and management services. It will combine elements of the two companies’ technologies, personnel and work processes with the intent of providing service on a global scale.

The unit will be managed by Deluxe and based in Burbank, Calif. All other lines of business at the two companies will continue to operate independently of one another.

“As the global entertainment industry continues its transition to 100% digital distribution and delivery, this transformational partnership will be optimally positioned to offer our companies’ existing and future customers industry-leading digital cinema services with greater efficiencies,” said David Kassler, CEO of Deluxe Entertainment Services.

Added Tim Sarnoff, president of production services at Technicolor: “This partnership puts us in a stronger position to offer industry-leading digital cinema services around the world.”

The joint venture is expected to close in the second quarter of 2015.