Based by Jim Jannard in 2005, RED has made a reputation for itself with its cutting-edge cameras, together with the RED One 4K and V-Raptor X, and its proprietary RAW compression expertise.
The corporate’s cameras have been the selection of quite a few Hollywood productions, incomes it an Academy Award.
RED cameras have been utilized in quite a few high-profile productions, together with Marvel movies like “Guardians of the Galaxy Vol. 3” and “Captain Marvel,” nature documentaries like “Planet Earth II,” and in style TV reveals like “Squid Recreation,” “Mindhunter,” “Peaky Blinders,” and “The Queen’s Gambit.”
In its press launch, Nikon emphasised each firms’ mutual want to fulfill prospects’ wants and supply distinctive consumer experiences. The merger of Nikon’s strengths in product growth, reliability, picture processing, and optical expertise with RED’s data of cinema cameras, distinctive picture compression expertise, and shade science is anticipated to allow the event of distinctive merchandise within the skilled digital cinema digicam market.
RED president Jarred Land took to social media to announce the information, stating, “This acquisition marks a big milestone for Nikon, melding its wealthy heritage in skilled and shopper imaging with RED’s revolutionary prowess. Collectively, Nikon and RED are poised to redefine the skilled digital cinema digicam market, promising an thrilling way forward for product growth that can proceed to push the boundaries of what’s attainable in movie and video manufacturing.”
The acquisition comes lower than a yr after RED sued Nikon for allegedly infringing on its video compression patents in a firmware replace for Nikon’s Z9 digicam. Nonetheless, the case was dismissed in April after Nikon challenged the legitimacy of RED’s patents.
With round 220 staff and its headquarters in Foothill Ranch, California, RED tried to increase into the smartphone market in 2018 with the discharge of the RED Hydrogen One. Nonetheless, the telephone, which boasted a holographic show and assist for modular add-ons, was a crucial failure and was discontinued a yr later.
Nikon, like a lot of the imaging trade, has confronted challenges lately. It sees this acquisition as a possibility to increase into the fast-growing skilled digital cinema digicam market. The corporate has been withdrawing from much less worthwhile areas of the digicam market, together with ending the event of latest DSLRs.
The deal’s monetary phrases haven’t been disclosed, and no layoff plans have been made public in response to the sale. The acquisition is anticipated to shut within the coming weeks, topic to customary closing circumstances and regulatory approvals.
