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October 22, 1997updated 03 Sep 2016 4:51pm

NEWTEK PARTNERS ACQUIRES ASSET FACTORY

By CBR Staff Writer

Video editing software house NewTek Partners LP, author of the LightWave 3D software line, has acquired Asset Factory Inc, a digital media management company which offers an on-demand rendering service over the internet. Terms of the agreement were undisclosed. Don Smith, co-founder, chairman and chief executive of Mountain View, California-based Asset Factory, will join NewTek as vice president, worldwide sales. Asset’s Netrender service is an off-site rendering service which enables users to transfer and monitor rendering jobs processed off-site in real- time. It supports NewTek’s LightWave software and has many of the same customers in the 3D animation and video markets. The product will be delivered as a plug-in for LightWave software, connecting in-house rendering capabilities with Asset Factory’s off-site capacity, via the company’s web site. Asset Factory plans further extensions of the product line into a subscription asset management service. NewTek is based in San Antonio, California.

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