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's acquisition of Pinnacle Systems was approved this week by both company's shareholders, days after Pinnacle rejected an eleventh hour offer by San Francisco-based private investor, Vector Capital. In March, Avid agreed to purchase the video editing technology manufacturer in a deal valued at $462 million. Si

Pinnacle products will be integrated into the Avid Video division, which will remain headquartered in Tewksbury, MA. Avid will also continue to develop the Pinnacle Liquid family, leveraging it across products and markets served by both the Avid Video and Consumer divisions.

The EU approval clears the way for Avid’s acquisition of Pinnacle

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.

Pinnacle's investment will be approximately $4 million consisting of a combination of cash and stock.

The cash and stock deal is expected to close by the third quarter of 2005, subject to the approval of regulators and shareholders

Pinnacle's consumer division to form basis for new branch