The Los Angeles Times reported Monday that RealD Inc., which makes 3-D cameras and glasses for the movie industry, has reached an agreement to be acquired by Rizvi Traverse Management for $551 million. RealD of Beverly Hills has been struggling recently because of the decreasing popularity of 3-D movies.

The company rejected a higher takeover bid last year by New York investment firm Starboard Value, which owns 10 percent of RealD.