Nikon has announced the start of a deal to acquire 100% of RED. The deal price is not disclosed at this time. The company announced this in an official announcement.

Under the agreement, RED will become a wholly owned subsidiary of Nikon. The company claims that the deal is the result of both parties’ desire to meet the needs of customers and offer them an exceptional experience.

“Nikon’s expertise in product development, exceptional reliability, and know-how in image processing, as well as optical technology and user interface along with RED’s knowledge in cinema cameras, including unique image compression technology and color science, will enable the development of distinctive products in the professional digital cinema camera market,” the statement reads.

RED was founded in 2005 and currently employs 220 people. The company has introduced industry-defining cameras such as the RED ONE 4K and V-RAPTOR [X]. One of the key benefits for Nikon in this deal will also be RED’s RAW compression technology, which the two companies are set to litigate in 2022.

This acquisition will be used to expand the fast-growing professional digital cinema camera market by building on both companies’ business foundations and networks. The companies promise an exciting future of product development that will continue to push the boundaries of what is possible in film and video production.