Vizrt has announced the acquisition of NewTek, creating the largest company in the broadcast space dedicated to enabling IT based video production.
The company said its 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.”
Vizrt said the new 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 organisations 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 organisation that has ambitions of producing content for any output platform.”
Michael Hallén, current president & CEO of Vizrt, will lead the business. Dr Andrew Cross, current president & CTO of NewTek, will become president of Research & Development of the combined company.
Financial details of the acquisition have not been revealed.