3D Production Technology Market Shifts as 3Ality Acquires Element Technica
Marking a major shift in the 3D production technology arena, Burbank-headquartered 3D technology developer 3Ality Digital has acquired Los Angeles-based Element Technica, which is best known for it 3D camera rigs.
The deal, a combination of cash and equity, is valued at "several million," according to 3ality CEO Steve Schklair.
Once competitors in this young market, the combined businesses will now operate as a powerhouse under the moniker 3Ality Technica. 3Ality has provided 3D production gear for such upcoming features as The Hobbit: An Unexpected Journey, The Great Gatsby, Jack and the Giant Killer, and The Amazing-Spider Man; and Element Technica’s rigs were tapped for movies such as Prometheus and Oz: The Great and Powerful. The companies have also made inroads in 3D broadcasting; 3Ality has been working closely with Sky3D in the UK, while Element Technica rigs were used for such events as the 2010 FIFA World Cup and 2011 Wimbledon tournament.
in the 3D arena, 3Ality Technica’s most notable competitor is Cameron Pace Group, the 3D production technology developer and supplier founded by James Cameron and Vince Pace. CPG’s Fusion 3D rigs have been used on movies including Avatar, Transformers: Dark of the Moon, and Pirates of the Caribbean: At World’s End. In broadcasting, its technology has been tapped for projects including the NBA Finals, The Masters golf tournament, and it will be again used on this year’s 3D coverage of the US Open tennis championship.
Earlier this year, Clearlake Capital Group made a majority investment in 3Ality. At that time, 3ality's Schklair told The Hollywood Reporter that the investment would allow the company to grow its research & development, expand service, and cover planned acquisitions.
With the acquisition, Element Technica’s two partners, Hector Ortega and Stephen Pizzo, become senior vps of 3Ality Technica.
The Element Technica staff will relocate to 3Ality's Burbank headquarters, which recently took on additional space.
Plans are to continue to offer both 3Ality and Element Technica 3D rigs and their additional gear. With the acquisition, the company gains in house manufacturing and design capabilities, and expanded R&D.
Element Technica rigs have already been integrated with 3Ality’s popular Stereo Image Processor (SIP).