Wednesday, March 23, 2016
RealD Acquired By Rivzi Traverse For $551M
Los Angeles-based RealD has been acquired by private equity investor Rivzi Traverse Management, along with founder Michael V. Lewis, in a deal worth $551M, the companies said late Tuesday. Rivzi Traverse is paying $11.00 per share in cash for each share of RealD, taking the company private. RealD had been listed on the New York Stock Exchange. The deal had originally been announced in November. Michael Lewis will continue to serve as CEO of the company, which develops 3D movie projection technology for the theater business. RealD said it was advised by Moelis & Company LLC, Wachtell, Lipton, Rosen & Katz and Cooley LLP in the deal; Rizi Traverse was advised by Latham & Watkins LLP; Michael Lewis was advised by Freshfields Bruckhaus Deringer US LLP.