RealD Acquired By Rizvi Traverse For $551M

Los Angeles-based 3D movie technology provider RealD announced this morning that it has agreed to be acquired by private equity investor Rizvi Traverse Management, in a deal worth approximately $551M. According to the two, Rizvi Traverse will pay $11.00 per share in cash for RealD, taking the company private. RealD said its board, over the past year, has been in a "comprehensive review of strategic alternatives" for the company. RealD is led by Michael V. Lewis, who the company said will reinvest his equity into the transaction, and will continue on as Chairman and CEO of the company.