Vizrt buys NewTek
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Editor
| 02 April 2019

Claiming to have now become a global powerhouse in advanced video systems, real-time 3D graphics and playout provider Vizrt has acquired IP-based, software-driven live video production solutions firm NewTek.

Vizrt says the acquisition creates the largest company in the broadcast space that is dedicated to enabling IT based video production. It says its goal is to make it possible for people to tell their story using video. The combined companies will deliver end-to-end workflows for all levels of production and software-based products and services for media, sports, entertainment, education, enterprise, and esports.

Michael Hallén, current president and CEO of Vizrt, will lead the business while Andrew Cross, current president and CTO of NewTek, will assume the role as president of research and development of the combined company.

“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 Hallén. “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.”

“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 revolutionised the way stories are told worldwide, allowing anyone to create and share a show,” added Cross. “The tools from our two companies have fuelled 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.”