Vizrt Purchases NewTek, Looks To Become Major Driving Force in IP Workflows
Two companies to unify complementary solutions
Vizrt has acquired NewTek, a move the two companies expect to result in an entity that will be a driving force in the transition to IP video for live production with NDI and SMPTE 2110, with each serving different needs.
The company will deliver flexible end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise, and esports. Current Vizrt President/CEO Michael Hallén will lead the business. Current NewTek President/CTO Dr. Andrew Cross will assume the role of president, research and development, of the combined company.
“Combining our organizations allow us to pursue our joint vision of software-based video production, leveraging the power and flexibility of computing and IT-based systems,” says Hallén. “The combined business will be very well-positioned to deliver turnkey systems that give creative power to any organization that has ambitions of producing content for any output platform.”
The two companies offer complementary software-based technology that creates an end-to-end workflow for the growing content-creation market and are also dedicated to growing the adoption, strength, and accessibility of IP technology for all markets. In a press release, the companies say their combined valuable channel network will benefit from taking a wider portfolio of products to customers and the company will be R&D-focused on providing the software-based video technology that is the foundation of the future of the media industry.
“Taking advantage of computational, software, and network technology to make video more accessible and fun to create has always been NewTek’s mission,” says Cross. “These changes have revolutionized the way stories are told worldwide, allowing anyone to create and share a show.
“The tools from our two companies have fueled the video revolution — from kids in classrooms, Little League games, and web shows to the highest levels of broadcasting, news, and sports,” he continues. “The combined company represents one of the most disruptive changes for the video industry in decades. However, the goal remains the same: to build a new world of IT-based video technology to grow the reach and impact for anyone with a story to share.”
Both companies will be presenting to customers, partners, and press on April 7 in the Las Vegas Convention Center North Hall during NAB 2019. The NewTek customer and partner event will commence at 5:30 p.m. and include a panel session, a talk with Cross, and welcome drinks.