Nikon Press Release
Nikon Corporation (President: Toshikazu Madate, Minato-ku, Tokyo) announced today that it has entered into an agreement with James Jannard, founder of RED.com, LLC (President: Jarred Land, California, hereinafter referred to as "RED"), a U.S.-based company that develops, manufactures, sells, and services professional cinema cameras, and Jarred Land, the current president. Subject to the satisfaction of various closing conditions, the Company entered into an equity transfer agreement that included the acquisition of all of RED's interests, and agreed to make RED a subsidiary of the Company.
Since its founding in 2005, RED has been engaged in professional cinema cameras used for filming movies and commercials. The company has released a number of market-leading products for cinema cameras, including the development of digital cinema cameras such as the RED ONE 4K with its proprietary RAW compression technology and the state-of-the-art V-RAPTOR [X]. RED's products have been selected for numerous Hollywood productions, including Academy Award winners, and have been praised by directors and cinematographers around the world for their innovation and image quality.
With this acquisition, the strengths of Nikon, which has high reliability in product development, knowledge of image processing technology, user interface, optical technology, etc., and RED, which has cultivated know-how in cinema cameras, including proprietary image compression technology and color science, will be integrated, enabling the development of distinctive products for professional video equipment. While making the most of the business foundations and networks of both companies, we aim to develop the professional video market, which is expected to expand in the future.
Both parties agreed on the desire to be close to customers and provide an emotional experience that exceeded their expectations, and this agreement was reached. Nikon will continue to contribute to the development of visual culture in the field of moving images, with the aim of further expanding the possibilities of visual expression.
RED Press Release
RED Digital Cinema Announces it will be Acquired by Nikon Corporation
HOLLYWOOD (March 6, 2024) – In a landmark move, RED Digital Cinema (RED.com, LLC), is excited to announce it will be acquired by Nikon Corporation (Nikon). The agreement with Nikon, reached with RED’s Founder Jim Jannard and President Jarred Land, signifies a new era of innovation and excellence in the professional filmmaking sector.
This strategic partnership brings together Nikon’s extensive history and expertise in product development, know-how in image processing, as well as optical technology and user interface, with RED’s revolutionary digital cinema cameras and award-winning technologies.
For over 17 years, RED has been at the forefront of digital cinema, introducing industry-defining products such as the original RED ONE 4K to the cutting-edge 8K V-RAPTOR X, all powered by RED’s proprietary REDCODE RAW compression. RED’s contributions to the film industry earned a Scientific and Technical Academy Award®, and their cameras have been used on Oscar®-winning films. RED is the choice for numerous Hollywood productions and is celebrated by directors and cinematographers worldwide for its commitment to innovation and image quality optimized for the highest levels of filmmaking, documentaries, commercials and video production.
This acquisition marks a significant milestone for Nikon, melding its rich heritage in professional and consumer imaging with RED’s innovative prowess. Together, Nikon and RED are poised to redefine the professional digital cinema camera market, promising an exciting future of product development that will continue to push the boundaries of what is possible in film and video production.
Stay tuned for more updates as Nikon and RED embark on this exciting journey to shape the future of cinema technology.
