Avid, a global leader in professional media production software, has announced its agreement to acquire Wolftech Broadcast Solutions, a company known for its cloud-based multiplatform planning and news production tools.
This acquisition aligns with Avid’s strategic focus on enhancing workflows in news, sports, and live production.
Integration of Avid and Wolftech
The combination of Avid’s media solutions with Wolftech’s expertise in story-centric workflow management will provide news organizations with tools to deliver content across multiple platforms more efficiently. This move aims to improve remote collaboration and boost production speed, giving news teams the ability to amplify stories rapidly.
Openness and Integration
Both companies prioritize open systems and customer choice. Wolftech already integrates with Avid’s MediaCentral and other newsroom systems, a trend that will continue after the acquisition. The integration will focus on further connecting Wolftech’s planning tools with Avid’s existing products while maintaining compatibility with other industry platforms. Wolftech’s current customers will gain access to Avid’s global support services and professional resources.
Benefits for News Organizations
This acquisition allows Avid to enhance its offering with AI-powered tools that will benefit news production organizations by:
- Breaking Down Silos: Improving operational clarity by connecting digital, broadcast, and long-form content teams.
- Increasing Efficiency: Providing advanced planning and analytics tools to optimize resource use.
- Focusing on Content: Enabling faster story amplification across various distribution channels.
- Improving Team Collaboration: Facilitating better communication between newsroom, remote, and field teams through centralized web and mobile tools.
- Adapting to Technological Changes: Offering modular workflows supported by open APIs and AI features for seamless integration from production to editing.
Leadership Statements
Avid’s CEO, Wellford Dillard, highlighted the acquisition as a strategic move to strengthen Avid’s position in the news industry and provide tools that enhance storytelling efficiency. Wolftech’s CEO, Arne Berven, expressed confidence that the merger would help revolutionize news production, allowing teams to meet changing audience needs and deliver content across platforms more effectively.
About Avid
Avid Technology is a software and hardware provider specializing in solutions for media production, management, and distribution. The company offers a range of tools for audio and video editing, including products like Media Composer for video editing and Pro Tools for audio production. Its customer base spans film studios, TV stations, post-production houses, and live performance venues. Avid serves industries globally, including in the Americas, Europe, Asia-Pacific, and the Middle East.
News source: Avid
