Software Maker Acquires 4% Stake in Iwerks

Evans & Sutherland Computer Corp., a Salt Lake City maker of simulator software, said it acquired a 4% equity stake in Burbank-based Iwerks Entertainment Inc.

Iwerks, which designs special-format movie theaters, plans to go public in a stock offering next month that Iwerks hopes will net the company $20 million after expenses.

Evans & Sutherland said it purchased 210,526 shares of Iwerk’s preferred stock at $9.50 per share for a total investment of $2 million. The preferred stock is convertible to common shares in Iwerks’ planned stock offering.

Iwerks and Evans & Sutherland recently teamed to develop a virtual-reality, interactive attraction called “Virtual Adventures” that is scheduled to be completed next spring.