Nikon acquires RED 3/7/2024, 12:00:00 AM

In a significant move that few expected, Nikon has decided to acquire RED, as officially announced in a statement. The Japanese company thus takes full control of the American company founded in 2005.

For the moment, the sum of the transaction has not been disclosed. According to explanations, this acquisition occurs due to the "mutual interest of Nikon and RED in developing products that meet expectations." With this purchase, Nikon will be able to expand into the professional cinema camera sector, where RED and its V-Raptor are one of the major references.

The purchase of RED by Nikon raises many questions, primarily regarding how the different formats will be reconciled. It so happens that in 2022, RED filed a lawsuit against Nikon, accusing it of infringing its compressed RAW patents.

In April 2023, the decision was made to abandon the patent lawsuit. At that time, there was speculation that Nikon might have paid RED to use this technology. Now it is known that the relationship between these two companies has gone further. A significant move in the sector whose impact is yet to be fully understood. According to the statement, RED currently employs 220 people.

 

Press Release from Nikon: 

Nikon Corporation 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.

Press Release from RED:

RED Digital Cinema Announces it will be Acquired by Nikon Corporation

HOLLYWOOD (March 6, 2024) – In a landmark move, RED Digital Cinema (RED.com, LLC), is excited to announce it will be acquired by Nikon Corporation (Nikon). The agreement with Nikon, reached with RED’s Founder Jim Jannard and President Jarred Land, signifies a new era of innovation and excellence in the professional filmmaking sector.

This strategic partnership brings together Nikon’s extensive history and expertise in product development, know-how in image processing, as well as optical technology and user interface, with RED’s revolutionary digital cinema cameras and award-winning technologies.

For over 17 years, RED has been at the forefront of digital cinema, introducing industry-defining products such as the original RED ONE 4K to the cutting-edge 8K V-RAPTOR X, all powered by RED’s proprietary REDCODE RAW compression. RED’s contributions to the film industry earned a Scientific and Technical Academy Award®, and their cameras have been used on Oscar®-winning films. RED is the choice for numerous Hollywood productions and is celebrated by directors and cinematographers worldwide for its commitment to innovation and image quality optimized for the highest levels of filmmaking, documentaries, commercials and video production.

This acquisition marks a significant milestone for Nikon, melding its rich heritage in professional and consumer imaging with RED’s innovative prowess. Together, Nikon and RED are poised to redefine the professional digital cinema camera market, promising an exciting future of product development that will continue to push the boundaries of what is possible in film and video production.

Stay tuned for more updates as Nikon and RED embark on this exciting journey to shape the future of cinema technology.