[Variety]

Two major suppliers in the stereo 3D arena have joined up, creating a powerhouse that will provide an estimated 80% of the technology used in 3D production worldwide.

Tech provider 3ality Digital has acquired all of manufacturer Element Technica for “several million dollars in cash, plus equity,” said Steve Schklair, formerly CEO of 3ality Digital and now CEO of the combined company, which takes on the moniker 3eality Technica.

Schklair added that even though the two companies shared customers, there’s “no overlap in their product lines. We’ll continue both lines and we’re planning no layoffs” as a result of the acquisition. …

Ortega said the combination of the two companies’ product lines will result in more efficiency in 3D production. “With this acquisition… not only will automation become more common, it will be the standard as the industry begins to enjoy the simplicity and speed it affords,” he said.

2D and 3D accessories that were marketed under the Element Technica brand will continued to carry that banner.

3ality Digital rented additional space at its Burbank headquarters to accommodate the influx of Element Technica employees, who will move there in the fall.  …

Read the full story here: http://www.variety.com/article/VR1118041723