Microsoft ICE

Microsoft ICE is an advanced panoramic image composer. Microsoft ICE or Image Composite Editor it’s easy to use tool that can take a set of overlapping photographs of a scene shot from a single camera location and create a high-resolution panorama image. Finished panoramic images you can save in various formats: JPEG, TIFF, Microsoft’s formats Deep Zoom and HD View, and even Photoshop’s PSD file. ICE is provided free of charge and without official support but a still great product from Microsoft.

Homepage: http://research.microsoft.com/ivm/ice.html