Equity corp. takes on 3-D with stock swap deal
Kestrel Equity Corp. has acquired privately held 3-D film development, production and distribution house Stereo Vision Entertainment Inc. in a stock swap deal.
Specific financial terms of the deal were not disclosed.
The boards of directors from both North Hollywood-based companies unanimously approved the merger. Publicly traded Kestrel is changing its name to Stereo Vision Entertainment and will trade under the new name beginning sometime next week.
At the same time, John G. Kookootsedes has been named prexy and CEO of the new combined SVE, replacing Frederick C. Phillips, who continues as general corporate counsel.
Kookootsedes most recently served as prexy of the Chanteclair Restaurant Group in Irvine. Before that, he was prexy and CEO of Willis Corroon Corp. in Santa Ana and chief operating officer of Frank B. Hall & Co. in Costa Mesa.
“This merger will enable our company to fully develop a broad range of new and exciting products and services in the rapidly growing and diversifying entertainment field,” SVE spokesperson Tammi Harrison said.
SVE’s 3-D camera lenses have licensed for James Cameron’s “Terminator II 3-D” attraction at Universal Studios, Disney’s 3-D theme park show “Honey, I Shrunk the Audience,” a 3-D pic for the Las Vegas Luxor casino and the feature “Jaws 3-D,” from U. The company has also served as an adviser on several projects for Disney, Warner Bros., Sony/Imax, Chevrolet, Toyota and Kodak.