Vizrt Acquires NewTek

Vizrt Buys NewTek

Vizrt, provider of visual storytelling tools for media content creators, has acquired NewTek. The companies say the acquisition creates the largest company in the broadcast space that is dedicated to enabling IT based video production, and 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.

“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.”

[Growing IP Video]

“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,” added Dr. Andrew Cross, president and 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.”

Hallén will lead the business and Cross will assume the role as president of research and development of the combined company.