TITLE

AVID TO ACQUIRE PINNACLE

PUB. DATE
May 2005
SOURCE
Mix;May2005, Vol. 29 Issue 6, p16
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article presents information on the status of business of Avid LLC. With an expected close date of July 1, 2005, Avid has acquired Pinnacle Systems Inc. in a cash and stock transaction. Pinnacle shareholders will receive 0.0869 shares of Avid stock and $1 in cash for each Pinnacle share. Pinnacle purchased Steinberg Inc. in January 2003, which was then bought by Yamaha in December 2004. Thus, Avid will only be acquiring Pinnacle's broadcast and graphics capabilities. by acquiring Pinnacle's consumer video business. Avid wilt be able to tap into the next generation of video editors while they are still learning their craft.
ACCESSION #
16913530

 

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