“Avid Technology in Acquisition Talks with STG and Francisco Partners” in “360 Seconds. Broadcast News and Commentary”.
Discussing the latest technological news with our respected experts – Philip Grossman and Mary Ann Seidler. Don’t forget to give the program a like!
Maria Kholodova: Symphony Technology Group (STG) and Francisco Partners are reportedly in talks to acquire media editing software maker Avid Technology Inc. Avid, which began exploring sale options earlier this year, said it could finalize a deal as early as this month.
What are your thoughts on this?
Mary: It’s quite intriguing. I remember when Avid was just starting out, and now it’s grown into this major entity with both STG and Francisco Partners considering an acquisition. This could be an opportunity for Avid to venture into new territories and broaden their influence. Take Symphony Technology, for instance; they often invest in companies they believe have significant growth potential. From a broadcaster’s perspective, one might wonder about the growth potential in broadcasting. Perhaps not so much in the traditional sense, but consider the sheer volume of content being produced now for various platforms. I can envision them propelling Avid to greater heights. As for Francisco Partners, they’ve also made significant strides in the industry. It’s noteworthy that they own GoodRx, a brand that’s become widely recognized. Additionally, they have a stake in New Relic, which specializes in stack monitoring for companies. If both of these entities have an interest in Avid, the dynamics could be fascinating. I’m curious about Avid’s decision to sell. Are they considering a sale to further expand, or is it more of a strategic pivot for them? Avid is a commendable company, and I trust both potential acquirers. They both have stellar reputations, especially in terms of employee treatment. That’s a positive sign.
Philip, what’s your take on this?
Philip: Some might perceive this as a classic “chainsaw” Al Dunlop strategy, where the new owners might dissect the company and sell it in parts. This could be beneficial, given Avid’s strong foothold in the television editing market. It’ll be intriguing to see if this acquisition, if it happens, is geared towards expansion or segmentation.
Maria: That’s all the time we have today. Many thanks to our experts – Philip and Mary! And don’t forget to comment on the news we’ve discussed. See you next Monday at the same time! Goodbye!
The live broadcast took place on August 7, 2023. Production – TKT1957 LLC.
Hosts: Philip Grossman, Mary Ann Seidle, and Maria Kholodova.
Media Partner – Cine Gear Expo.
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