Vizrt Q&A: Four Questions, Four Quick Answers Regarding the NewTek Acquisition
When we first heard the blockbuster news of Vizrt’s acquisition of NewTek, we had a few simple questions. We sent them off to the team at Vizrt and received these responses that provide some background on the deal and what it means to both companies. Once we are onsite with Vizrt and NewTek at the NAB Show this weekend, we will provide additional reporting and details.
What are the plans with respect to branding of NewTek and its products? Will the NewTek brand continue?
Both the NewTek and the Vizrt brands are strong in their respective segments. The wider portfolio offered by the combined companies will be a strength that will benefit both brands. NewTek will be a separate unit within Vizrt, focusing on its current target markets and operating through its indirect sales channel. The Vizrt name will be used for the whole group as the parent brand.
What made NewTek an attractive acquisition target?
Vizrt recognizes NewTek as a company that shares the same core vision and values. NewTek’s NDI is driving the acceptance and accessibility of IP video for all markets and users and has a strong adoption rate in markets of all sizes. NewTek’s switchers also complement Vizrt’s software-based control-room–automation systems, providing an easy platform for emerging markets, such as esports, to create live productions.
Obviously, both companies have very strong relationships with customers. Can you offer any more clarification on changes in staffing that may affect NewTek’s current customers? The assumption is, the diversity of the customer base probably means that many of the sales and support team will remain in place.
Vizrt and NewTek touch different segments of the market and require dedicated channels to reach and support those segments. Since there is very little overlap, the sales and support teams of both companies will stay in place
NewTek has invested a lot of R&D into NDI and has many partners and customers who rely on it. How will you continue to serve those customers as well as serve those who rely on ST 2110?
Vizrt will continue to develop and support the NDI IP standard and others (such as SMPTE 2110). Vizrt was one of the first companies to adopt NDI and are big advocates of the technology. We firmly believe that IP video is the future and is the last standard that will exist for video. On the sports side of things, NewTek has excellent IP production switchers and IP replay servers that, together with Vizrt’s strong sports portfolio, will be a great sport offering in the future, especially towards Tier 2 sports broadcasters, sports clubs, and venues.