SAN ANTONIO, TX & BERGEN, NORWAY — Vizrt, the provider of visual storytelling tools for media content creators, has acquired NewTek (newtek.com), the developer of IP-based, software-driven live video production solutions. The acquisition creates one of the largest companies in the broadcast space dedicated to enabling IT-based video production.
Vizrt is looking to empower all types of storytellers, from children in classrooms to tier-1 broadcasters. The combined companies emerge as the market transitions 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,” says 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.”
“Taking advantage of computational, software, and network technology to make video more accessible, and fun to create has always been NewTek’s mission,” says Dr. Andrew Cross, president & CTO of NewTek. “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. 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.”
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, April 7th in the Las Vegas Convention Center North Hall. The NewTek customer and partner event will commence at 5:30pm and include a panel session, talk with Dr. Cross.