Latin America. Vizrt has acquired NewTek. According to both companies, the acquisition creates the largest company in the streaming space that is dedicated to enabling IT-based video production. The goal is to make it possible for people to tell their story using a video, whether it's a child in a classroom or a level 1 broadcaster.
The combined companies emerge as the driving force in the transition to IP video for live production with NDI and SMPTE 2110, and each meets different needs. It will offer flexible end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise and sports.
"The combination of our organizations allows us to continue our joint vision of software-based video production, leveraging the power and flexibility of computing and IT-based systems. The combined business will be very well positioned to offer turnkey systems that lend creative power to any organization that has ambitions to produce content for any outbound platform," said Michael Hallén, CEO of Vizrt.
The combination is a perfect combination.
- Complementary software-based technology that creates an end-to-end workflow for the growing content creation market.
- A dedication to growing the adoption, robustness and accessibility of IP technology for all markets.
- A valuable network of channels implemented, which will benefit from bringing a broader portfolio of products to customers.
The new company combines the brilliant minds who invented the NDI protocol with the innovators who invented template-based real-time graphics. The company will focus on R&D with the vision of providing the software-based video technology that is the foundation of the future of the media industry.
"Leveraging computing technology, software and networking to make video more accessible and fun to create has always been NewTek's mission. These changes have revolutionized the way stories are told around the world, allowing anyone to create and share a program. The combined company represents one of the most disruptive changes for the video industry in decades, yet the goal remains the same: to build a new world of IT-based video technology to increase reach and impact for anyone with a story to share," said Dr. Andrew Cross, President and Chief Technology Officer of NewTek.
With a mission to unleash the power of storytelling through video for everyone, the combined company is committed to creating video production tools accessible to all markets, while ensuring a smooth transition from traditional broadband to the flexibility of IP video.
Michael Hallén, Vizrt's current president and chief executive officer, will lead the business. Dr. Andrew Cross, current President and CTO of NewTek, will assume the role of President of Research and Development for the combined company.
Both companies will perform to customers, partners and press at NAB on Sunday, April 7 at the Las Vegas Convention Center North Hall. The event for NewTek customers and partners will begin at 5:30 p.m.
