RealD Inc., the Beverly Hills 3D and visual technology company, signed an agreement to install four of its premium Luxe auditoriums in mainland China, the company announced Wednesday. Financial terms of the deal were not disclosed.
The agreement, which was signed with Shanghai Redstar Pacific Pictures Investment Co. Ltd, will pave the way for the installation of the Luxe auditoriums in four of Redstar Pacific’s cinema locations. Luxe auditoriums feature ceiling-to-floor screens with immersive sound systems.
RealD has struggled recently to regain its footing as 3D technology has fallen out of favor with moviegoers. Last year, the company said it would downsize facilities and undergo layoffs to save $16 million. In November, the company reached an agreement to be acquired by Rizvi Traverse Management for $551 million.
The deal with Redstar Pacific now brings the number of total auditoriums planned in China to 15. As of Sept. 30, RealD 3D was installed in more than 25,000 auditoriums globally.
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