Vizrt announces acquisition of NewTek
Vizrt announced the acquisition of NewTek with the aim of accelerating the innovation they represent and advancing a shared vision for video creation, production and distribution.
Vizrt, the leading provider of visual storytelling tools for media content creators, has acquired the global leader in IP-based live video production solutions. The acquisition creates the largest company in the Broadcasting industry dedicated to information technology-based video creation.
The combined companies are poised to drive the transition to IP video for live production with NDI and SMPTE 2110, each serving different needs. The company will provide flexible end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise and esports.
“Combining our companies allows us to pursue our shared vision of software-defined video production, leveraging the power and flexibility of IT systems,” said Michael Hallén, CEO of Vizrt.
The merger is a perfect match. The new company combines the brilliant minds who invented the NDI protocol with the pioneers who discovered standards-driven real-time graphics. The company will be focused on researching and developing video technology software that is the foundation of the future of the media industry.
“Leveraging computer, software and network technology to make video more accessible and entertaining has always been NewTek’s mission. These changes have revolutionized the way stories are told around the world, enabling anyone to create and share an experience,” said Dr. Andrew Cross, President and CEO of NewTek. “The tools of our two companies have powered the television revolution – from children in classrooms, to championship games and online broadcasts, to the highest levels of broadcast, news and sports.
The new company represents one of the most tumultuous changes for the video industry in decades, yet the goal remains the same – to build a new world of video technology powered by IT to grow the reach and impact of those who want to share a story.”
The new company is committed to creating accessible video production tools for all markets, while ensuring a smooth transition from traditional broadband to the flexibility of IP video.
Michael Hallén, current President and CEO of Vizrt, will lead the business. Dr. Andrew Cross, current President & CTO of NewTek, will assume the role of President of Research & Development of the combined company.
The announcement of the acquisition and related details will be given at NAB 2019, on Sunday, April 7, at the Las Vegas Convention Center North Hall.
Comart
Comart is the official representative of Vizrt for Greece and Cyprus.
