STG Completes Acquisition of Avid Technology

As anticipated in the August 2023 announcement, Avid Technology announced the completion of its acquisition by an affiliate of the Symphony Technology Group (STG), a private equity firm based in Menlo Park, CA, in an all-cash transaction valued at approximately $1.4 billion. The acquisition was approved by Avid stockholders on November 2, 2023. With Avid becoming a privately held company, there's a general positive sentiment among management and employees about the future of the company.

Swedish sound processing pioneer Dirac announced the completion of a direct share equity issue that raised $17.73-million USD (150 MSEK) from new investor TIN Fonder and current investor DIG Investment. According to Dirac CEO Peter Friedrichsen, the new equity raise values the company at just under $142.2-million USD and positions Dirac to fully leverage and lead what it believes will be the next great era in audio driven by software rather than hardware alone.

Jonathan Wyner has started his term as President of the Audio Engineering Society beginning January 1, 2021. "Jonathan has proven his leadership and vision during his year on the AES Board of Directors as President-Elect," comments outgoing AES President Agnieszka Roginska. "The AES is in excellent hands for the coming year." Wyner’s experience includes 30-plus years as both an active AES member and as an audio technologist.