Nikon is acquiring US camera manufacturer RED

Nikon is acquiring RED Digital Cinema, 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

, 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…