Massachusetts-based editing software and services company Avid Technology has entered into an agreement with an affiliate of private equity firm STG for an all-cash transaction valued at approximately $1.4 billion, including Avid’s net debt. Unanimously approved by Avid’s board of directors, the deal is expected to close during the fourth quarter of 2023. Upon completion, Avid will become a privately-held company and its stock will no longer be traded on the Nasdaq exchange. The transaction, which will be financed through equity and debt financing, is subject to Avid stockholder and regulatory approvals. Continue reading Private Equity Firm STG Plans to Acquire Avid for $1.4 Billion

ETC program director Erik Weaver introduced a live Equinix/ETC@USC webinar on “The Future of Media & Entertainment in a Time of Radical Change.” The opening keynote address on cloud workflows, moderated by film/TV media workflow engineer Michael Kammes, featured Microsoft Azure chief technology officer of media & entertainment Hanno Basse and Avid chief executive & president Jeff Rosica. Kammes opened the conversation by asking Basse and Rosica to describe how their companies are experiencing the move into the cloud. Continue reading Pandemic Hastens M&E Industry Adoption of Cloud Workflows

Media & Entertainment have been deeply affected by current events. Increased streaming demands and unprecedented stress on infrastructure have forced media companies to quickly adapt and accelerate their digital transformation, yet the future remains uncertain. How will this unprecedented crisis affect content product and distribution? Who will be the winners and losers in the aftermath? What technologies will move to the forefront? Join Equinix and the Entertainment Technology Center on Thursday, April 30 for an insightful and provocative conversation with an array of thought leaders as we explore the future and its opportunities. Continue reading Virtual Event: The Future of M&E in a Time of Radical Change

As part of the Next Generation Media Technologies program at NAB, in partnership with ETC@USC, Walden Pond chief executive Wendy Aylsworth moderated a panel on “Thought Leadership for Key Players in the Industry.” Leaders from cloud initiatives at Microsoft, Google, Adobe and Avid Technology detailed their experiences in evolving cloud offerings, as well as the challenges in making these services a reality. Because the cloud is capable of multiple workflows, each leader had a different take on its benefits. Continue reading NAB 2017: Thought Leaders Gather to Discuss Cloud Potential