Avid Technology Becomes a Privately Held Company Following Acquisition by Investment Firm

Following rumors that Avid was exploring sale options, the news that the company entered a definitive agreement to be acquired by an affiliate of the Symphony Technology Group (STG), a private equity firm based in Menlo Park, CA, was not exactly a surprise. Avid will become a privately held company upon completion of the $1.4 Billion transaction and will exit the NASDAQ. In general, this is great news for stockholders, bound to receive $27.05 per share in cash.

It’s a new era for Avid, now with Jeff Rosica as Avid new CEO and President. Of course the completely new generation of products announced at NAB 2018 (Las Vegas, April 9-12) is the result of years of preparation, but the way this latest wave of innovation was announced at the Avid Connect 2018 event is already a sign of changes in the company. Essentially, Avid is accelerating the delivery of new tools, apps, services, and solutions for creative professionals and media companies.