Los Angeles-based SDI Media Group, a provider of subtitling and language dubbing services, has been acquired by Elevation Partners, the investment group that includes U2’s Bono as a partner. Financial terms of the deal were not disclosed. Elevation is acquiring SDI Media from private equity firm Warburg Pincus, which acquired SDI in 2004. SDI Media provides localization of media, including subtitling and dubbing, using its own software and network of freelancers and employees. Elevation Partners is a private equity firm that includes U2’s Bono, Roger McNamee, Fred Anderson, Bret Pearlman, and Marc Bodnick. Elevation also holds a stake in Move.com and Forbes Magazine.