Avid announced this week that it is acquiring Pinnacle in a deal that includes a stock and cash transaction. The $462 million deal--of approximately $6.2 million shares and $71.3 million in cash--is based on Avid's March 18 closing stock price of $62.95 and is expected to be complete by July. Shareholders of
Avid Technology and Pinnacle Systems announced on Monday that Avid has entered into a definitive agreement to acquire Pinnacle in a cash and stock transaction. The acquisition is subject to satisfying a number of closing conditions, including shareholder and regulatory approvals, and is expected to close in the second or third quarter of 2005.