SAN ANTONIO, Texas, & BERGEN, Norway—Vizrt has acquired NewTek, creating one of the largest companies in the industry focused on making IT-based video production a reality. No financial details about the purchase, announced April 1, were immediately available.
“Combining our organizations allow[s] 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 president and CEO. “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.”
The companies offer complementary software-based technology enabling an end-to-end workflow for content creation, they said.
Both also have focused significant effort and resources on the adoption of IP-based technology—NewTek with development and nurturing of its NDI IP protocol and Vizrt with its support for the SMPTE ST 2110 suite of IP for professional media standards.
Hallén will lead the business. Dr. Andrew Cross, current president and CTO of NewTek, will assume the role of president of Research & Development of the combined company.
“Taking advantage of computational, software and network technology to make video more accessible and fun to create has always been NewTek’s mission. These changes have revolutionized the way stories are told worldwide, allowing anyone to create and share a show.” said Cross.
“The combined company represents one of the most disruptive changes for the video industry in decades; however, the goal remains the same—to build a new world of IT-based video technology to grow the reach and impact for anyone with a story to share.”