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.

SoundHound AI, Inc., the voice AI technology pioneer, announced the completion of the previously announced business combination between SoundHound Inc. and Archimedes Tech SPAC Partners Co., a special purpose acquisition company. The combined company is called SoundHound AI, Inc. and will begin trading on Nasdaq under the new ticker symbol “SOUN” from April 28, 2022.

SoundHound, a leading technology company with its unique voice AI platform, available across 22 languages, and Archimedes Tech SPAC Partners Co., a blank check, special purpose acquisition company, announced they have entered into a definitive merger agreement. The combined company will be called SoundHound AI, Inc. and is expected to be publicly listed on Nasdaq under the symbol SOUN following the closing of the transaction.