LAS VEGAS--(BUSINESS WIRE)--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 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. “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.”
3ality Digital provides the film and television industry with camera platforms, stereo image processing systems and stereoscopic 3D (S3D) image scaling technologies. 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. 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.
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