"By becoming a private company, we believe Avid will be able to achieve the speed of innovation, scale and performance required for us to continue leading the industry forward," says Jeff Rosica, Avid’s Chief Executive Officer and President. "Combined with their significant operational and financial resources, STG brings deep investment experience in the technology sector that will accelerate the achievement of Avid’s strategic vision, building on the momentum of our successful ongoing transformation achieved over the past several years."
"We are excited to begin the next phase of Avid’s journey. Avid’s solutions are integral to content creation and management workflows across the film, television and music markets. Building on Avid’s established leadership position, we look forward to accelerating Avid’s growth trajectory through a deep focus on innovation and delivering enhanced customer value," says William Chisholm, Managing Partner, and Patrick Fouhy, Principal, of STG.
What began more than 30 years ago with Avid's pioneering role in nonlinear digital video editing has led to individual artists, creative teams, and organizations everywhere subscribing to today's powerful tools and collaborating securely in the cloud. Avid continues to re-imagine the many ways editors, musicians, producers, journalists and other content creators bring their stories to life.
www.avid.com
