While many of us use our smartphones for capturing photos and video, professional photographers have different needs. They rely on brands like Sony, Canon, Nikon, and RED for superior image quality and specialized features. In a major development for these professionals, Nikon has just announced the acquisition of U.S. camera maker Here are the details…
Nikon to Acquire US Cinema Camera Manufacturer RED
For those unfamiliar, RED is a U.S. based manufacturer of professional cameras, especially sought-after in the film industry. You might also recognize the RED name from their Hydrogen One smartphone launched a while back, even if you’re not a camera enthusiast. Big news: Nikon is acquiring RED.
According to the agreement, Nikon will acquire all shares of RED. The official cost of the acquisition has not been disclosed, but it is estimated to be over $1 billion, according to some sources. The completion of the acquisition requires the completion of necessary legal procedures, which is stated to take several months.
The main reason for Nikon to make this acquisition is its desire to further strengthen its position in the rapidly growing professional digital cinema camera market. Meanwhile, RED aims to grow and develop further by leveraging Nikon’s resources and production capabilities.
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