Japanese optics and photographic equipment manufacturer, Nikon has revealed its acquisition of RED, a renowned high-end cinema camera company, in a deal of undisclosed value, The Verge reported.
RED is set to become a wholly-owned subsidiary under Nikon’s ownership. Despite the challenges faced by the imaging industry in recent years, Nikon’s move to acquire RED aims to tap into the lucrative market of high-quality cinema cameras.
RED, established in 2005, has gained recognition for its cameras featured in popular productions such as “Squid Game,” “Peaky Blinders,” and “Captain Marvel.” The acquisition signifies Nikon’s strategic expansion into the realm of digital cinema, a move away from less profitable segments like the development of new DSLRs.
The purchase is anticipated to be mutually beneficial, as Nikon gains access to RED’s innovative digital cinema cameras and award-winning technologies. In a Facebook post, RED’s president, Jarred Lang, expressed the advantages of the strategic partnership, emphasizing the combination of Nikon’s historical expertise in product development, image processing, optical technology, and user interface with RED’s revolutionary offerings.
Notably, RED had previously taken legal action against Nikon in 2022, alleging the unauthorized use of RED’s patented data compression technology in Nikon’s Z9 camera. The legal dispute witnessed arguments over the legitimacy of RED’s patents, ultimately leading to a dismissal after the two companies reached an agreement.
Despite this legal history, the acquisition marks a new chapter for Nikon and RED, aligning their strengths for future innovations in the evolving landscape of imaging technology.
