Nikon Corporation announced on Thursday that it has completed its acquisition of RED.com, LLC (RED). Financial details were not disclosed.
RED's President Jarred Land is now a “close Advisor” to the company, along with RED's founder James Jannard. Keiji Oishi, of Nikon's Imaging Business Unit, assumed the role of CEO and Tommy Rios, Executive Vice President of RED, moved into the role of Co-CEO.
Apart from the new leadership roles, Nikon said there will be no changes to RED's current product lineup, partners, and relationship with the dealers. RED will continue to support its policies with warranties, repair services, customer services, and overall product support, Nikon said.
"Welcoming RED, a company that has been at the forefront of innovative technology, to the Nikon family is sure to expand the possibilities of imaging expression, and further delight the market with its innovation," comments Hiroyuki Ikegami, Executive Vice President and General Manager of Nikon's Imaging Business Unit. "Combining the best of both companies and working together to develop new, distinctive products, is our goal and for the brand to remain the choice for fans of Nikon and RED, and possibly reach out to an even wider audience."
"I believe it is my mission as the representative of RED to develop the market in a way that will pay respect to the corporate cultures of RED and Nikon," says RED CEO Keiji Oishi. "You can look forward to RED's future product development which will aim to meet and exceed the expectations of cinematographers around the world."
"We are the pioneer in digital cinematography, and the synergy with Nikon will only help us to continue to evolve," says RED Co-CEO Tommy Rios. "We'll continue to deliver cutting-edge technology that no one has ever seen before. We remain committed to working together with the RED dealers around the world."
Newly appointed RED Advisor James Jannard comments, "It is a proud moment for me to see RED, a brand that I have nurtured with passion for over 20 years, gain the opportunity to achieve new heights with the help of Nikon, a company that I also love."
RED Advisor Jarred Land shared his excitement, stating, "By joining the Nikon family, a company that is known for the advanced technology that it has been cultivated over many years, I am confident that RED will bring a new era to the professional digital cinema camera market. It is an honor to be a part of this new chapter."
