Vizrt has just announced that has purchased the IT-based video production company NewTek. According to the company, this deal will provide flexible end-to-end workflows for “all levels of production and software-based products” for areas such as media, entertainment, esports, sports, education and enterprise.

What is now the “largest company in the broadcast space that is dedicated to enabling IT based video production” has stated its will to be “the driving force” in the transition to IP video for live production with NDI and SMPTE 2110, “with each serving different needs”.

Michael Hallén, Vizrt CEO, said about the agreement: “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. 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. 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” added Dr. Andrew Cross, president & CTO of NewTek.

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.

In addition, the company has shared a short-list with the vision of the union between Vizrt and NewTek:

“1. Complementary software-based technology that creates an end-to-end workflow for the growing content creation market.

2. A dedication to growing the adoption, strength, and accessibility of IP technology for all markets.

3. A valuable channel network in place, that will benefit from taking a wider portfolio of products to customers.

4. The new company combines the brilliant minds that invented the NDI protocol with the innovators that invented template-driven real-time graphics. The company will be R&D focused with the vision of providing the software-based video technology that is the foundation of the future of the media industry”.