Rizvi Traverse Buys RealD Inc. for $551M
Private equity firm Rizvi Traverse Management LLC is taking 3D movie technology maker RealD Inc. private for about $551 million in cash, valuing the target at $11 per share.
A Bright Future?
“As a private company, RealD will have the flexibility and resources to further invest in our continued cinema leadership and visual technology innovation,” says RealD CEO Michael Lewis, who is reinvesting his shares in the acquisition and will continue to lead the company.
About Rizvi Traverse
Rizvi Traverse is a media, technology and entertainment focused private equity firm. Some of the firm’s current investments include Twitter Inc. (NYSE: TWTR), Snapchat, Playboy and Elon Musk's SpaceX. Rizvi has also previously invested in Facebook Inc. (Nasdaq: FB) and ICM.