San Antonio, TX and Bergen, Norway /PRNewswire/ - Vizrt, the world's leading provider of visual storytelling tools for media content creators, has acquired NewTek, world leader in IP-based, software-driven live video production solutions. The acquisition creates the largest company in the broadcast space that is dedicated to enabling IT-based video production. The goal is to make it possible for people to tell their story using video, whether they are a kid in a classroom or a tier-1 broadcaster.
The combined companies emerge as the 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.
"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," said Michael Hallén, Vizrt CEO. "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 combination is a perfect match.
"Taking advantage of computational, software, and network technology to make video more accessible, and fun to create has always been NewTek's mission. These changes have revolutionized the way stories are told worldwide, allowing anyone to create and share a show," said Dr. Andrew Cross, president & CTO of NewTek. "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. 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."
With a mission to unleash the power of storytelling through video for everyone, the combined company is committed to the creation of accessible video production tools for all markets, while ensuring a smooth transition from traditional broadband to the flexibility of IP video.
Michael Hallén, current President & CEO of Vizrt, will lead the business. Dr. Andrew Cross, current President & CTO of NewTek, will assume the role as President of Research & Development of the combined company.
Both companies will be presenting to customers, partners and press at NAB on Sunday 7th April in the Las VegasConvention Center North Hall. The NewTek customer and partner event will commence at 5:30 p.m. and include a panel session, talk with NewTek's Dr. Andrew Cross and welcome drinks.
Vizrt is the world's leading provider of visual storytelling tools for media content creators in the broadcast, sports, digital and esports industries. Vizrt offers market-defining software-based solutions for real-time 3D graphics, video playout, studio automation, sports analysis, media asset management, and journalist story tools.
More than three billion people watch stories told by Vizrt customers everyday including from media companies such as CNN, CBS, NBC, Fox, BBC, BSkyB, Sky Sports, Al Jazeera, NDR, ZDF, Star TV, Network 18, Tencent, and many more. Vizrt is a global and diverse company with over 500 employees, operating in 30 offices worldwide.
Vizrt is a privately-owned company by Nordic Capital Fund VIII. Vizrt is creative power made easy.
As the leader in IP video technology, NewTek is transforming the way people create network-style television content and share it with the world. From sporting events, Web-based talk shows, live entertainment, classrooms, and corporate communications, to virtually any place people want to capture and publish live video, we give our customers the power to grow their audiences, brands and businesses faster than ever before.
Clients include: New York Giants, NBA Development League, Fox News, BBC, NHL, Nickelodeon, CBS Radio, ESPN Radio, Fox Sports, MTV, TWiT.TV, USA TODAY, Department of Homeland Security (DHS), the National Aeronautics and Space Administration (NASA), and more than 80% of the U.S. Fortune 100.
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