LogInThe cost of the acquisition by Nikon was not disclosed.
Image credit: Arkhipenko Olga/Shutterstock.com
Yesterday, Japanese camera giant Nikon released a statement announcing its plans to acquire RED, a US cinema camera manufacturer established by Jim Jannard in 2005.
This acquisition follows a legal dispute, where RED sued Nikon for purportedly violating its video compression technology patents in 2022. Nikon contested the claims, leading to the case being dismissed in April 2023.
"This 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," reads the statement from Nikon.
Founded in 2005 by Oakley sunglasses company Founder Jannard, RED used to be a big player in digital film production. In 2016, over 25% of the top 100 highest-grossing domestic films were shot using RED cameras. Adding to that, the company's cameras are also popular among prominent YouTubers.
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