Editing specialist Avid has agreed to buy audio console maker Euphonix for an undisclosed sum. The acquisition expands Avid’s Icon control-surface business into the Euphonix line.
All brands will be continued after the purchase of Euphonix, a manufacturer of large-format digital audio consoles, media controllers and peripherals. The deal is expected to be completed by the end of April.
Avid posted revenues of $174.7 million for the fourth quarter of last year, which is up from three consecutive quarters, with revenues hovering around $151 million. However, the company’s net loss was up slightly, to $17.9 million from $17.2 million. This was attributed to higher selling, administrative and general expenses.
Euphonix, which is located in Mountain View, Calif., ended 2008 by posting what it described as its “best annual revenues for over 10 years.” Specific figures were not disclosed.
