Avid acquires Pinnacle; opens office in Dubai

Avid Technology has announced that it will acquire Pinnacle Systems in a cash and stock transaction.

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By  Vijaya Cherian Published  March 28, 2005

Avid Technology has announced that it will acquire Pinnacle Systems in a cash and stock transaction. The acquisition will see Pinnacle’s MediaStream broadcast playout server and the Deko on-air graphics system become a part of Avid’s end-to-end broadcast production pipeline. In addition, Pinnacle’s consumer video business will form the basis for a new consumer video division at Avid, providing the company with an immediate avenue into that segment. “We see this acquisition as the next logical step in our long-term strategy,” says Avid president and CEO, David Krall. “Just as our acquisition of M-Audio in 2004 brought us into the consumer audio business, by acquiring Pinnacle’s consumer video business, Avid will be able to tap into the next generation of video editors while they are still learning their craft. At the same time, we believe that Pinnacle’s professional broadcast offerings will fit seamlessly with Avid’s business, extending our end-to-end broadcast solutions with servers and on-air graphics products. We think it would be hard to find a more complementary match for these two businesses than what this combination provides.” Avid also recently opened an office in Dubai Media City to service customers in the Middle East, India, Africa and the Eastern Mediterranean area. The office will be headed by John Aslett.

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