The 3Play system records from three video feeds, offers instant replay and is HD and SD capable.
NewTek managing director EMEA distribution Frank Lafage said that other key elements of the product are its "intuitive interface and an extremely efficient workflow".
"What's most remarkable about this product is the price,” he said. “It will market for under £18,000, which would normally only buy you a single channel system."
The product can either output one of these three feeds, or simultaneously output two or three which will be switched via a traditional switcher.
3Play does not rely on a traditional server and the hardware is less expensive to build than that of a traditional server-based slow motion system.
It will be suitable for capturing sporting events, but can be used in any location where slow motion and instant replay are required.
Lafage said: "It can also be used in education and by smaller independent productions working to a tight budget."
The product will be available in the second quarter 2009.
Broadcast Video Expo takes place from 17-19 February in London's Earls Court 2.