Nikon is acquiring US camera manufacturer RED

Nikon is acquiring RED, the company founded by Jim Jannard (founder of Oakley) and best known for digital cinema cameras including the RED One 4K and V-Raptor X. Exact terms of the deal were not disclosed in Nikon’s press release, which outlined how RED will become a wholly-owned subsidiary of the camera company.

Nikon hopes to use the deal to expand into the professional digital cinema camera market, drawing from RED’s “knowledge in cinema cameras, including unique image compression technology and color science.” RED currently has around 220 employees, per Nikon’s press release, and has its headquarters in Foothill Ranch, California.

Although best known for its digital cinema cameras, RED attempted to expand into the smartphone market in 2018 with the release of the RED Hydrogen One. The phone boasted a holographic display and support for modular add-ons, but was a critical failure and was discontinued a year later.