Vizrt announces acquisition of NewTek
Vizrt has acquired NewTek, creating the largest company in the broadcast space that is dedicated to enabling IT-based video production.
“Combining our organizations allow us to pursue our joint vision of software-based video production, leveraging the power and flexibility of computing and IT-based systems.” said Michael Hallén, Vizrt CEO in a statement. “The combined business will be very well positioned to deliver turnkey systems that give creative power to any organization that has ambitions of producing content for any output platform.”
NewTek is known for its TriCaster, a complete multi-camera production system that launched in 2005, which is used by many non-traditional broadcasters across the globe along with its NewTek Network Device Interface IP video standard.
The combined companies will focus on the transition to IP video for live production with NDI and SMPTE 2110, with each serving different needs. The company will deliver flexible end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise, and esports.
Vizrt notes the companies share:
- Complementary software-based technology that creates an end-to-end workflow for the growing content creation market.
- A dedication to growing the adoption, strength, and accessibility of IP technology for all markets.
- A valuable channel network in place, that will benefit from taking a wider portfolio of products to customers.
Michael Hallén, current President & CEO of Vizrt, will lead the business. Dr. Andrew Cross, current President & CTO of NewTek, will assume the role as President of Research & Development of the combined company.
Prior to today’s announcement, NewTek was a strategic partner of Vizrt, with Viz Trio and Viz Engine integrating with the NewTek TriCaster TC1 and IP Series systems.
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