Duyuru • Apr 03
Avid Technology, Inc. Announces Chief Executive Officer Changes Avid Technology, Inc. announced that it has appointed Wellford Dillard as the organization’s next Chief Executive Officer (CEO). Wellford succeeds Jeff Rosica, who is staying with the company in an advisory capacity to ensure a smooth and successful transition. Wellford joins Avid after serving as the CEO of Marigold, a leading provider of omni-channel marketing SaaS solutions, used by businesses to manage and deepen customer engagement. Wellford has more than 20 years of experience in the software industry and, prior to Marigold, held CFO roles at vertical software leaders such as Opower and GetWellNetwork, among others. Duyuru • Nov 17
Avid Technology, Inc. Files Form 15 Avid Technology, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.01 per share. Duyuru • Nov 09
Symphony Technology Group, LLC completed the acquisition of Avid Technology, Inc. (NasdaqGS:AVID). Symphony Technology Group, LLC entered into a definitive agreement to acquire Avid Technology, Inc. (NasdaqGS:AVID) for $1.2 billion on August 9, 2023. All-cash transaction values Avid at approximately $1.4 billion, inclusive of Avid’s net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. The transaction will be financed through a combination of equity and debt financing and is not subject to a financing condition. Sixth Street Partners and Silver Point are providing committed debt financing in support of the transaction. Sixth Street Partners will make an equity investment of approximately $960.99 million to fund a portion of the financing and the lender parties committed to provide buyer with debt financing of $660 million senior secured credit facility consisting of a $600 million term loan facility and and a $60 million revolving credit facility to finance a portion of the transaction and for working capital purposes. Upon completion of the transaction, Avid will become a privately-held company, and its common stock will no longer be traded on Nasdaq. In case of termination of the transaction under certain circumstances, Avid will be required to pay to a termination fee of $39.8 million. Symphony Technology is required to pay to Avid a termination fee equal to $84.5 million.The transaction is subject to Avid stockholder approval, regulatory approvals, the expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. The transaction was unanimously approved by Avid’s Board of Directors. The transaction was also approved by Symphony Technology Board. The transaction was approved at the special meeting of stockholders of Avid Technology held on November 2, 2023. The transaction is expected to close during the fourth quarter of 2023. Goldman Sachs & Co. LLC is serving as financial advisor and fairness opinion provider to Avid, and Beth Berg and Daniel J. Belke of Sidley Austin LLP are serving as legal counsel. Rothschild & Co is serving as financial advisor to Symphony Technology, and Steve Camahort and Dana Kromm of Paul Hastings LLP are serving as legal counsel to Symphony Technology. Innisfree M&A Inc. is the proxy solicitation agent for Avid for a fee of approximately $25,000. Avid has agreed to pay Goldman Sachs a transaction fee of approximately $20 million which is contingent upon consummation of the merger.Symphony Technology Group, LLC completed the acquisition of Avid Technology, Inc. (NasdaqGS:AVID) on November 7, 2023. As a result of the completion of this transaction, Avid common stock will cease trading prior to the opening of trading on November 7, 2023, and will no longer be listed on the Nasdaq Stock Market. Avid will operate as a privately-held company and remain headquartered in Burlington, Massachusetts Duyuru • Sep 23
Avid Technology, Inc. Unveils Pro Tools Sketch for Modern Music Creators and to Expand Pro Tools Workflows Avid announced Pro Tools Sketch™?, a new non-linear, clip-based creation tool in Pro Tools software that is also available as a free iPad app. Pro Tools Sketch enables musicians to quickly capture new ideas and freely experiment with concepts and songs, and find inspiration with a massive library of free loops, virtual instruments and effects. years in the making, this new addition to the Pro Tools workflow adds a must-have creation process directly alongside the Edit and Mix windows that established modern linear audio recording. With Pro Tools Sketch, Avid addresses the growing needs of modern creators, no matter their preferred music creation style. While the Pro Tools Sketch iPad app is available for free to anyone via the Apple App Store, the Pro Tools 2023.9 update is now available to all Pro Tools customers on an active subscription or perpetual license with a current Software Updates + Support Plan, as well as all users of the free Pro Tools Intro application. Pro Tools Sketch is a significant expansion of the Pro Tools music creation workflow, adding a non-linear creation environment to the proven Pro Tools toolset used on the majority of top music releases, movies and TV shows. Users can now start with clip-based sketches in which loops, MIDI and recordings can be freely organized and played, and then exported to be shared with friends. Sketch can also be moved to the Pro Tools timeline for further production using its world-class editing and mixing tools. Other New Pro Tools 2023.9 Features Pro Tools 2023.9 software update also introduces Export Selected Range, which enables Pro Tools Studio and Ultimate customers to export selected portions of the timeline as a new session. This feature is perfect for breaking up large post sessions, separating a live recording into a session per song, and saving important elements of the session as bite size pieces. The release also delivers drag-and-drop plugin slot reordering to give users greater flexibility in experimenting with and changing processing order, and more. The Pro Tools 2023.9software release is now available free to download via the Apple App Store. The Pro Tools 2023., software release is now available to all Pro tools customers on an active subscription or annual license with a current Software Updates+ Support Plan, as well as All users of the free Pro Tools Intro application. New Pro Tools subscriptions (Art, Studio, and Ultimate) can be purchased on the Avid Webstore or through an authorized Avid reseller which can be located at avid.com/find-a-reseller. Pro Tools Intro can beloaded for free at Avid.com/pro- tools-intro. Avid has also announced that it is making available the Pro Tools perpetual license purchase option after receiving clear and consistent feedback from the user community. Duyuru • Sep 07
Avid Technology, Inc. Launches Stream IO Subscription-based Ingest & Playout Platform for Next-Generation Media Production Avid Technology, Inc. announcing the commercial availability of Avid | Stream IO™, a new flexible subscription-based software platform for production ingest and playout of news, sports, live entertainment and other TV content. Already, broadcasters around the world – including CNBC-TV18 and BQ Prime (formerly BloombergQuint) – are signing up to take advantage of the new solution at launch. With a flexible architecture that can be configured to ingest or play out IP streams and SDI streams, Avid | Stream IO allows news, sports and live content producers to migrate from legacy workflows and on-premises deployment to cloud and IP workflows at their own pace. Avid | Stream IO provides flexible channel configurations, supporting popular video formats, codecs and resolutions, enabling media companies to leverage new and emerging technologies within their production workflows. It offers complete deployment flexibility, now supporting both off-the-shelf certified hardware for on-premises studio environments and standard virtual machines in the cloud. The new platform also allows media companies to increase efficiency by combining different ingest sources in a single configuration. Ideal for live entertainment and multi-camera productions, Avid | Stream IO will support all common production formats?, including SDI at launch, Compressed IP streams SRT /RTMP soon after, with NDI, and SMPTE 2110 to follow later next year. As a next-generation product, Avid | Stream IO offers all the best capabilities of Avid’s proven hardware-based server solutions—AirSpeed® and FastServe®—while expanding support for emerging IP standards and higher-precision formats, such as 4K and HDR. Avid | Stream IO also supports Avid’s proven fast-turnaround workflows, including shot-listing, craft editing and logging—all while tightly integrating with Avid’s MediaCentral™ production platform to minimize disruption to production. 
