 |
| Image: RED |
Nikon has just announced it will be acquiring US cinema camera manufacturer RED Digital Cinema. Founded in 2005 by Jim Jannard, RED has produced cinema cameras that were used in the production of over 25 percent of top-grossing films in the mid 2010s as well as Oscar winners like 2021’s Mank.
The acquisition comes after RED sued Nikon for allegedly infringing on patents it held for video compression technology in 2022 and Nikon, in response, squared off the fight the allegations before the case was ultimately dismissed in April of 2023.
It’s easy to assume there’s some connection between these two events, but irrespective of this, the purchase makes a lot of sense for Nikon from a business perspective. RED has established a toe-hold in Hollywood and with the rental houses used by independent production teams, in a way that would take Nikon years to achieve. Likewise, absorbing a company that’s already developed an industry-accepted set of tools could let Nikon sidestep the teething troubles that it might otherwise encounter as it continues to expand its video features.
Nikon to Acquire US Cinema Camera Manufacturer RED.com, LLC
Accelerating Expansion in Professional Digital Cinema Camera Market
March 7, 2024
TOKYO – Nikon Corporation (Nikon) hereby announces its entry into an agreement to acquire 100% of the outstanding membership interests of RED.com, LLC (RED) whereby RED will become a wholly-owned subsidiary of Nikon, pursuant to a Membership Interest Purchase Agreement with Mr. James Jannard, its founder, and Mr. Jarred Land, its current President, subject to the satisfaction of certain closing conditions thereunder.
Since its establishment in 2005, RED has been at the forefront of digital cinema cameras, introducing industry-defining products such as the original RED ONE 4K to the cutting-edge V-RAPTOR [X] with its proprietary RAW compression technology. RED’s contributions to the film industry have not only earned it an Academy Award but have also made it the camera of choice for numerous Hollywood productions, celebrated by directors and cinematographers worldwide for its commitment to innovation and image quality optimized for the highest levels of filmmaking and video production.
This agreement was reached as a result of the mutual desires of Nikon and RED to meet the customers’ needs and offer exceptional user experiences that exceed expectations, merging the strengths of both companies. Nikon’s expertise in product development, exceptional reliability, and know-how in image processing, as well as optical technology and user interface along with RED’s knowledge in cinema cameras, including unique image compression technology and color science, will enable the development of distinctive products in the professional digital cinema camera market.
Nikon will leverage this acquisition to expand the fast-growing professional digital cinema camera market, building on both companies’ business foundations and networks, promising an exciting future of product development that will continue to push the boundaries of what is possible in film and video production.
Author:
This article comes from DP Review and can be read on the original site.
