/
03.30.2005
Originally featured on BroadcastEngineering.com
Avid to acquire Pinnacle Systems for $462 million

Avid Technology has entered into a definitive agreement to buy Pinnacle Systems in a cash and stock transaction valued at $462 million.

Avid is expected to issue about 6.2 million shares and pay $71.3 million in cash at the closing of the deal. The agreement is subject to several closing conditions including approval from shareholders and regulators. The deal is expected to close by the third quarter of 2005.

According to a statement from Avid, Pinnacle’s consumer products will give the company entry into the home user market, while its professional products will extend Avid’s professional line of products. Avid plans to form a consumer product division based on Pinnacle’s existing products and customer base of 10 million.

For more information, visit www.pinnaclesys.com and www.avid.com.

Back to the top




Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Wednesday 9:02AM
Analysts: TV Regs 'Not as Dire as We Thought'
We feel the negatives are known and are a lot more comfortable recommending the space.


 
Featured Articles
Discover TV Technology