this post was submitted on 07 Mar 2024
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This is the best summary I could come up with:
Exact terms of the deal were not disclosed in Nikon’s press release, which outlined how RED will become a wholly-owned subsidiary of the camera company.
Nikon hopes to use the deal to expand into the professional digital cinema camera market, drawing from RED’s “knowledge in cinema cameras, including unique image compression technology and color science.” RED boasts that its cameras have been used to film numerous major films and TV shows, including multiple Marvel productions like Guardians of the Galaxy Vol.
3 and Captain Marvel, nature documentaries like Planet Earth II, and TV shows like Squid Game, Mindhunter, Peaky Blinders, and The Queen’s Gambit.
RED was founded in 2005 and currently has around 220 employees, per Nikon’s press release, and has its headquarters in Foothill Ranch, California.
The acquisition comes less than a year after RED’s lawsuit against Nikon for infringing on its video compression patents was dismissed.
The phone boasted a holographic display and support for modular add-ons, but was a critical failure and was discontinued a year later.
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