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March 21, 2005

In a deal announced this morning, digital editing powerhouse Avid is buying Pinnacle for $462 million. Avid will add Pinnacle's MediaStream broadcast server and Deko graphics systems to its product list. "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," said Avid President and CEO David Krall. "This creates a very large potential customer base for Avid's future."

Via Lost Remote


Originally from Lost Remote, remediated by yatta on Mar 21, 2005 at 05:25 PM