Avid spins off M-Audio and Consumer video apps at DVinfo.net

Jos Svendsen · July 2nd, 2012, 11:29 PM

A Quote from the press release:

Avid has agreed to sell its consumer audio and video product lines. The company’s consumer audio products are being sold to inMusic, the parent company of Akai Professional, Alesis and Numark, among others. Headquartered in Cumberland, Rhode Island, inMusic's brands are best known for producing innovative products for music production, performance and DJing. The products involved in this transaction include M-Audio brand keyboards, controllers, interfaces, speakers and digital DJ equipment and other product lines. Avid will continue to develop and sell its industry-leading Pro Tools® line of software and hardware, as well as associated I/O devices including Mbox and Fast Track.

Separately, the company’s consumer video editing line is being sold to Corel Corporation, a consumer software company headquartered in Ottawa, Canada. The products involved in this transaction include Avid Studio, Pinnacle Studio, and the Avid Studio App for the Apple iPad®, as well as other legacy video capture products.

The divested product lines contributed approximately $91 million of Avid’s 2011 revenue of $677 million. As part of the transactions, certain employees of Avid will transfer to each acquiring company. Avid estimates that the proceeds from these transactions will be approximately $17 million, subject to closing inventory adjustment, with a portion held in escrow. Both transactions are expected to close today, July 2, 2012.

Bill Koehler · July 3rd, 2012, 12:08 AM

Press Release Here:

Avid |News Room

July 13th, 2012, 09:02 AM

Buy Pinnacle, loose Pinnacle. Grow, contract. Maybe AVID Liquid Chrome will come back. It'll be like a liminal character in a JAWS movie. The space in between...

David Stoneburner · July 13th, 2012, 10:31 AM

I was a Liquid user till they killed it. I had to make a jump and decided to go with Vegas. I've never been a fan of the Avid interface.

Thomas Smet · July 13th, 2012, 10:57 AM

Poor Liquid code base just cannot find a home. I was also a big Liquid user for many years. At the time I knew Avid buying Pinnacle was a bad move. Oh well I moved on a long time ago.

Galen Rath · July 20th, 2012, 12:53 PM

Pinnacle Liquid had valuable features some other programs incorporated only much later, and some still haven't incorporated. It's death was unwarranted, and is another example of what's wrong with business in this country.

July 2nd, 2012, 11:29 PM	#1
Jos Svendsen Major Player Join Date: Mar 2004 Location: Copenhagen, Denmark Posts: 221	Avid spins off M-Audio and Consumer video apps A Quote from the press release: Avid has agreed to sell its consumer audio and video product lines. The company’s consumer audio products are being sold to inMusic, the parent company of Akai Professional, Alesis and Numark, among others. Headquartered in Cumberland, Rhode Island, inMusic's brands are best known for producing innovative products for music production, performance and DJing. The products involved in this transaction include M-Audio brand keyboards, controllers, interfaces, speakers and digital DJ equipment and other product lines. Avid will continue to develop and sell its industry-leading Pro Tools® line of software and hardware, as well as associated I/O devices including Mbox and Fast Track. Separately, the company’s consumer video editing line is being sold to Corel Corporation, a consumer software company headquartered in Ottawa, Canada. The products involved in this transaction include Avid Studio, Pinnacle Studio, and the Avid Studio App for the Apple iPad®, as well as other legacy video capture products. The divested product lines contributed approximately $91 million of Avid’s 2011 revenue of $677 million. As part of the transactions, certain employees of Avid will transfer to each acquiring company. Avid estimates that the proceeds from these transactions will be approximately $17 million, subject to closing inventory adjustment, with a portion held in escrow. Both transactions are expected to close today, July 2, 2012. __________________ ---------------------------- 12c41 JOS. Svendsen

July 3rd, 2012, 12:08 AM	#2
Bill Koehler Major Player Join Date: May 2007 Location: Alpharetta, Georgia, USA Posts: 760	Re: Avid spins off M-Audio and Consumer video apps Press Release Here: Avid \|News Room

July 13th, 2012, 09:02 AM	#3
Guest Posts: n/a	Re: Avid spins off M-Audio and Consumer video apps Buy Pinnacle, loose Pinnacle. Grow, contract. Maybe AVID Liquid Chrome will come back. It'll be like a liminal character in a JAWS movie. The space in between...

July 13th, 2012, 10:31 AM	#4
David Stoneburner Major Player Join Date: Jun 2003 Location: Orlando, FL Posts: 494	Re: Avid spins off M-Audio and Consumer video apps I was a Liquid user till they killed it. I had to make a jump and decided to go with Vegas. I've never been a fan of the Avid interface.

July 13th, 2012, 10:57 AM	#5
Thomas Smet Trustee Join Date: Mar 2004 Location: Milwaukee, WI Posts: 1,719	Re: Avid spins off M-Audio and Consumer video apps Poor Liquid code base just cannot find a home. I was also a big Liquid user for many years. At the time I knew Avid buying Pinnacle was a bad move. Oh well I moved on a long time ago.

July 20th, 2012, 12:53 PM	#6
Galen Rath Major Player Join Date: Nov 2005 Location: Illinois Posts: 323	Re: Avid spins off M-Audio and Consumer video apps Pinnacle Liquid had valuable features some other programs incorporated only much later, and some still haven't incorporated. It's death was unwarranted, and is another example of what's wrong with business in this country.