BURLINGTON, MASS.—Avid and Beijing Jetsen Technology have announced a “go-to-market” commercial partnership for the Greater China market. As part of the new alliance, Avid will look to grow its cloud-enabled Avid Everywhere platform in the region and provide a stronger local presence.
With the agreement, Jetsen will be the exclusive distributor of Avid tools and workflow for Greater China, which includes mainland China, Hong Kong, Macau and Taiwan. All existing reseller agreements with current channel partners of Avid in Greater China will be transferred to Jetsen, with these partners being able to continue to represent the Avid portfolio, but will purchase directly from Jetsen.
In addition, Jetsen will invest $18.1 million in Avid in return for a minority stake in the company between 5 and 9.9 percent; the investment is subject to customary closing conditions, including regulatory approvals.