Vizrt announces acquisition of NewTek
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“Combining our organizations allow 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 CEO in a statement. “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.”
NewTek is known for its TriCaster, a complete multi-camera production system that launched in 2005, which is used by many non-traditional broadcasters across the globe along with its NewTek Network Device Interface IP video standard.
The combined companies will focus on the transition to IP video for live production with NDI and SMPTE 2110, with each serving different needs. The company will deliver flexible end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise, and esports.
Vizrt notes the companies share:
- Complementary software-based technology that creates an end-to-end workflow for the growing content creation market.
- A dedication to growing the adoption, strength, and accessibility of IP technology for all markets.
- A valuable channel network in place, that will benefit from taking a wider portfolio of products to customers.
“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 Dr. Andrew Cross, President & CTO of NewTek. “The tools from our two companies have fueled the video revolution—from kids in classrooms, little league games, and web shows, to the highest levels of broadcasting, news and sports. 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.”
Michael Hallén, current President & CEO of Vizrt, will lead the business. Dr. Andrew Cross, current President & CTO of NewTek, will assume the role as President of Research & Development of the combined company.
Prior to today’s announcement, NewTek was a strategic partner of Vizrt, with Viz Trio and Viz Engine integrating with the NewTek TriCaster TC1 and IP Series systems.