Las Vegas - Avid announced on Sunday it has entered into a definitive agreement to acquire Euphonix, a leader in large-format digital audio consoles, media controllers and peripherals. At an NAB Show pre-opening press event at the Mandarin Oriental on Sunday, Avid Chairman and CEO Gary Greenfield said the acquisition of the Mountain View, California company "greatly expands our portfolio to offer customers a complementary set of workflow solutions-from independent producers creating music in their home studios to broadcasters preparing segments for national broadcast”.
Pending shareholder and regulatory approval, the acquisition will allow Avid to deliver a broad range of audio and video control surfaces and consoles designed to meet the needs of customers ranging from the independent professional to the high-end broadcaster. Avid said it plans to continue to support and sell both Euphonix control surfaces and Avid’s existing ICON solution, enabling customers to leverage existing investments in industry-leading hardware.
Reaffirming its commitment to interoperability, Avid said it plans to develop an open standard protocol that greatly expands the ecosystem of compatibility between the Euphonix control surfaces and a wide range of Avid and third-party audio and video applications, including Media Composer and Pro Tools. For existing Euphonix customers, Avid will continue to support EuCon- the Euphonix high-speed Ethernet protocol that enables its control surfaces to interface with third-party software.
Taking the stage shortly after the announcement, Euphonix CEO Martin Kloiber said, "We are all excited about the possibility to be part of Avid’s family. I do believe Avid and Euphonix together will lead to way and be the first to promote this open architecture of the future, [which is a] major step in the democratisation of technology."
Financial details of the deal will be revealed after the shareholders’ meeting on April 20.
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