When I first read the news from Nikon I looked at my calendar to confirm it was not April 1st. It’s March 7, and Nikon just announced 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.”
It’s a surprising move no one saw coming – but those involved – but it’s not a surprising move for Nikon. The company may be well known for its photography cameras, but for years now Nikon has had a foot in the professional cinema industry, through Mark Roberts Motion Control (MRMC) a Nikon Group Company focused on cutting edge camera robotics and automation for cinematography, broadcast, television, sports, live events and photography.
Winner of an Academy Award (Oscar) and a Queen’s Award for technical excellence and enterprise, MRMC is one of the largest suppliers of camera robotics in the world today. Now Nikon adds to its portfolio RED, meaning it will be closer to Canon and Sony than it ever was. And by buying RED, starts with a portfolio of solutions that is well known by professionals.
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.
A quick reaction video from Filmtools
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.