In a surprise move, Nikon Corporation has acquired RED in its entirety, with the company to become a subsidiary of the Japanese business.
Founded by Jim Jannard in 2005, the US-based RED was at forefront of the introduction of digital cinema cameras, such as the original RED ONE 4K. RED earned a Scientific and Technical Academy Award in 2017 for the RED Epic.
Nikon has flagged it will leverage this acquisition to further expand into the professional digital cinema camera market, building on both companies’ business foundations and networks.
According to its press release, the 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,” the release reads.