Private Equity Firm STG Completes Acquisition of Avid for $1.4B – The Hollywood Reporter

Logo text An affiliate of private equity firm STG has completed the acquisition of Avid Technology — the maker of the Media Composer editing system and Pro Tools audio postproduction system, both leading tools used in Hollywood for picture editing and sound, respectively — in an all-cash transaction valued at approximately $1.4 billion. Under the terms of the agreement, Avid stockholders will receive $27.05 per share, and Avid will once again operate as a privately-held company and remain headquartered in Burlington, Massachusetts. “By becoming a private company, we believe Avid will be able to achieve the speed of innovation, scale and performance required for us to continue leading the industry forward,” said Avid president and CEO Jeff Rosica in a released statement. “Combined with their significant operational and financial resources, STG brings deep investment experience in the technology sector that will accelerate the achievement of Avid’s strategic vision, building on the momentum of our successful ongoing transformation achieved over the past several years.” Avid was founded in 1987 and, with the introduction of the Media Composer, led the pivotal change in Hollywood from film-based to computer-based nonlinear editing. In 1994, it acquired Digidesign, the maker of Pro Tools. Both Media Composer and
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