BURBANK, Calif. (Aug. 25. 2011) — 3ality Digital, backed by Clearlake Capital Group, L.P., announced that it acquired Element Technica. The combined company, to be called 3ality Technica, will be the world’s largest provider of end to end stereoscopic 3D solutions, including camera rigs, image processors, and accessories used by the motion picture and broadcast industries. Hector Ortega and Stephen Pizzo, the founders of Element Technica, will join the senior leadership team of 3ality Technica. Additional terms of the deal were not disclosed.
3ality Technica will develop new 3D rigs that bring together 3ality Digital’s cutting edge stereo image processing software with Element Technica’s manufacturing and design expertise. “As a leading provider of 2D and 3D rigs and accessories, we have always had great respect for Element Technica and their achievements. Thanks in part to Clearlake and their help in pulling this deal together, 3ality Technica will be the combination of two award winning design and technology companies, creating an industry powerhouse with unparalleled capabilities,” said Steve Schklair, CEO of 3ality Digital.
The new company plans to present a unified presence at IBC 2011, a major broadcast industry conference, and highlight the potential for automation to significantly lower 3D production costs and enhance production quality for 3D content. “We are very excited about the opportunity to partner with 3ality and Clearlake. Pooling our resources and expertise will further propel us toward our shared goal of enabling the efficient production of high quality stereoscopic 3D content,” Ortega said.
“This transaction will create the film and broadcast industry’s only end to end solution for live-action stereoscopic 3D,” said Behdad Eghbali, Founding Partner at Clearlake, and Prashant Mehrotra, a Vice President at Clearlake. “We expect the combined company to continue to lead the industry as the proliferation of digital 3D media accelerates.” Clearlake became the lead sponsor of 3ality Digital in April 2011 and provided significant financial backing to support the growth of the company.
Headwaters MB acted as financial advisor to 3ality Digital in this transaction.