Technicolor S.A. and Deluxe Entertainment Services Group Inc. announced Thursday an agreement to create a digital cinema joint venture.

Deluxe Technicolor Digital Cinema will be based in Burbank and managed by Deluxe to provide digital cinema mastering, distribution and management services.

The joint venture brings together two legendary Hollywood companies that have moved away from providing film-based services such as lab processing and delivery of 35mm prints as digital content has taken over the market.

“As the global entertainment industry continues its transition to 100 percent 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 Deluxe Chief Executive David Kassler in a prepared statement.

Deluxe, owned by New York private investment firm MacAndrews & Forbes Inc., provides production, post-production, distribution and archiving services for feature films and television. It operates multiple locations in Burbank and Valencia.

Technicolor, based in suburban Paris, offers similar production and post-production services from facilities around the world, including one in Burbank and three in Hollywood.

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

In March, Technicolor announced it was closing a digital media services facility in Burbank that it opened just last year. It closed its last film lab in the Los Angeles area in December 2013. The lab, in Glendale, had only opened in 2011 to replace a larger facility at Universal Studios.