In move that includes an unspecified amount of money---but for a reported "several million dollars"---the 3D technology company 3Ality has acquired the 3D camera-rig company Element Technica.
The Hollywood Reporter says 3Ality acquired the Los Angeles-based company and quickly renamed itself 3Ality Technica. The two one-time competitors are expected with the merger to form a single powerhouse 3D production equipment company.
Some of the recent projects 3Ality has worked on include The Hobbit: An Unexpected Journey, The Geat Gatsby, Jack and the Giant Killer and The Amazing Spiderman. In addition, the two companies, which are now a single entity have begun to make inroads in the 3D broadcast market with 3Ality's work with the U.K.-based company Sky3D and Element Technica's work at events such as the FIFA 2010 soccer World Cup and 2011 Wimbledon tennis championships.
As part of the deal Element Technica's staff will move to 3Ality's Burbank, Calif. headquarters, and Element Technica's two partners, Hector Ortega and Stephen Pizzo will become senior vice presidents at 3Ality.