3ality Digital Poised to Capitalize on 3D Explosion
Burbank, CA and Santa Monica, CA – April 12, 2011 – Clearlake Capital Group, L.P. (“Clearlake”) and 3ality Digital today announced that Clearlake led and sponsored the recapitalization of 3ality Digital, the leading provider of 3D production technology and specialized equipment to the film and television industry. In connection with the transaction, Clearlake has acquired the majority of the newly-issued preferred stock of the company and will own a majority of the voting shares of 3ality Digital. 3ality Digital management also participated in the transaction. Additional terms were not disclosed.
“3ality Digital provides the highest quality 3D production technologies and equipment for film and television companies,” said Behdad Eghbali, a founding partner at Clearlake. “In addition, 3ality Digital reduces the cost and time associated with 3D production, provides superior images, and reduces eye strain. We are very pleased to partner with this proven and innovative team as the momentum behind 3D continues to build and as 3ality Digital continues to lead the way.”
“Clearlake Capital is investing in the biggest revolution in entertainment and sports production today – the emergence of 3D film and video programming, and we are thrilled to welcome them at this exciting time,” said Steve Schklair, Founder of 3ality Digital, who will continue to serve as the company’s CEO. “3ality Digital offers acknowledged leadership and best-in-class technologies, and we have been first in almost every 3D production event around the world. The backing of world-class investors ensures our continued significant investment in cutting-edge technologies that are driving down costs while significantly improving quality in 3D production.”
“As an early investor in 3ality Digital, the Modell family is thrilled to be joined by outstanding new partners,” said David Modell, Chairman of 3ality Digital. “Clearlake Capital has made a large commitment that is a strong validation of our strategy and our position as a 3D technology development leader at the top of this exploding market.”
In connection with the transaction, Mr. Eghbali and Prashant Mehrotra, a Vice President at Clearlake, have joined the Company’s Board of Directors.
Headwaters MB acted as financial advisor to Clearlake in this transaction.
3ality Digital provides the film and television industry with camera platforms, stereo image processing systems and stereoscopic 3D (S3D) image scaling technologies that are considered the “gold standard” for the production of compelling and immersive S3D entertainment. The company’s systems are unique because they integrate software intelligence with precise hardware automation, and allow the production of superb S3D on a 2D schedule, with minimal impact on the bottom line. 3ality Digital’s equipment and technologies are optimized to handle the demands of live S3D broadcast, and are rapidly being adopted by networks, production companies, studios and consumer electronics manufacturers. 3ality Digital’s technology is already being used on feature films such as THE AMAZING SPIDER-MAN which is currently in production.
3ality Digital’s newest product line, 3space™, aims to forever change the experience and quality of every imaginable form of 3D entertainment, 3D sports, 3D commercial shoots and even 3D episodic television. 3space revolutionizes the production of live-action 3D by automating the most complex and time-consuming processes associated with shooting 3D. 3space ensures faster, easier and more reliable results than any other system in the industry while reducing or eliminating the additional labor typically required for 3D shoots.
About 3ality Digital
3ality Digital is a pioneer and leading authority in stereoscopic 3D (S3D). 3ality Digital provides the film and television industry with camera platforms, stereo image processing systems and S3D image scaling technologies that are considered the “gold standard” for the production of compelling and immersive S3D entertainment. Whether for a feature film or live sporting event, its innovative technology empowers customers to stay in control of creativity when working with S3D.
Founded in 2000 by CEO, Steve Schklair, 3ality Digital has a reputation as an innovator in S3D, with its technology powering multiple live-action firsts. This includes: U2 3D, the first movie shot completely in live-action S3D; the first live S3D broadcast of an NFL game (Raiders vs. Chargers, December 4, 2008, broadcasted to a select audience); the first live S3D sports broadcast available to consumers, including the 2009 BCS Championship Game, BSkyB’s landmark Manchester United vs. Arsenal soccer broadcast (January 31, 2010), the first network hockey telecast ever produced in S3D (New York Rangers vs. Islanders, March 24 2010 on MSG); the first S3D commercial broadcast during a Super Bowl (Sobe “Lizard Lake”); the first full episode of a scripted television series shot in live-action S3D (Chuck vs. The Third Dimension, aired on NBC on February 2, 2009); and first RED EPIC S3D Movie, 'The Amazing Spider-Man.’
For more information, please visit www.3alitydigital.com
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in businesses going through change. Clearlake’s founding principals have led over 50 investments totaling more than $2.6 billion of capital in sectors including business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer and technology. For more information, please visit www.clearlakecapital.com.
3ality Digital is a sponsor of MarketSaw.
Tuesday, April 12, 2011
3ality Digital Poised to Capitalize on 3D Explosion