toggle

AAPL Stock: 125.58 ( + 1.05 )

Printed from http://www.macnn.com

Avid sells M-Audio to inMusic, video editing apps to Corel

updated 02:52 pm EDT, Mon July 2, 2012

Avid to earn $17M when sales complete later today

Pro Tools maker Avid is selling music technology company M-Audio to inMusic. Avid has agreed to the sale in order to focus on media enterprise and other professional customers, and to improve its operating performance. It is also passing its line of video editing apps to Corel Corporation at the same time as the M-Audio sale.

M-Audio is known for its keyboards, speakers, and interfaces, which are used extensively by Mac-based musicians. Although the sale sees inMusic, parent company of Akai and Alesis, receive most of the hardware catalog from M-Audio, Avid will still continue to develop and sell its Pro Tools software and related hardware, as well as the Mbox and Fast Track interface devices.

The video editing line, consisting of Avid Studio, Pinnacle Studio, and the Avid Studio App for the iPad, form the bulk of the Corel acquisition, which also includes other legacy video capture products.

Avid estimates to receive around $17 million when both transactions close later today.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, w ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look goo ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

toggle

Most Commented