RED makes high-end cinema cameras that have become very popular over the past years. The company even released a smartphone that was supposed to be a big leap forward for mobile content creation. The smartphone didn’t pan out too well, but their cameras continue to be used in everything from movies to YouTube videos.
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Now, Nikon has announced it has purchased 100% of the company. Founded in 2005, RED actually sued Nikon in 2005 with claims that Nikon was using patented data compression technology in the Nikon Z9. Nikon disputed the claims and legitimacy of the RED patents, and the case was dismissed. That’s all in the past now, since Nikon is immediately absorbing the company along with all of its IP.
Here’s what the press release had to say about this acquisition:
“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.”
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Last Updated on April 30, 2024.
