In a strategic move to bolster its presence in the professional digital cinema camera market, Nikon Corporation (OTCPK: NINOY) has announced plans to acquire RED.com, LLC, a renowned U.S. cinema camera manufacturer.
What Happened: Nikon disclosed that it has reached an agreement to purchase all outstanding membership interests of RED.com, thereby making it a wholly-owned subsidiary of Nikon.
The agreement was negotiated with RED’s founder, Mr. James Jannard, and its current President, Mr. Jarred Land, and is subject to certain closing conditions, the company said.
Founded in 2005, RED has launched innovative products like the original RED ONE 4K and the advanced V-RAPTOR [X]. Its contributions earned it an Academy Award and a favorite among numerous ...