Avid acquires Midiman/M-Audio for $80 million
updated 10:45 am EDT, Fri August 13, 2004
Avid acquires M-Audio
today announced that it has entered into a definitive agreement to acquire Midiman, also known as M-Audio. At closing, Avid will pay approximately $80 million in cash, issue approximately 2 million shares of Avid common stock, and assume all outstanding M-Audio stock options. Under the terms of the agreement, M-Audio will become a business unit of Avid’s Digidesign audio division and market its line of computer audio peripherals, PCI sound cards, keyboard controllers control surfaces, microphones, and so on alongside Digidesign’s award-winning digital audio workstations.
