GetWiki

{{Short description|American multimedia technology company}}{{About|the technology and multimedia company|the educational program|Advancement Via Individual Determination|other uses|AVID (disambiguation)}}

factoids

| founder = Bill Warner| key_people = Jeff Rosica (president &{{wbr}} CEO)| industry = Computer software, Technology, MultimediaPro Tools, Media Composer, Sibelius (scorewriter)>Sibelius, Avid Play Avid VENUE, Avid NEXIS, MediaCentral, FastServe, MBOX Studio, Pro Tools Carbon, Pro Tools MTRX, Airspeed, Avid Maestro Graphics.| revenue = {{increase}} US$417 million (2022)| operating_income = {{increase}} US$53.9 million (2022)| net_income = {{increase}} US$55.2 million (2022)| assets = {{increase}} US$287 million (2022)| equity = {{increasenegative}} −US$119 million (2022)| num_employees = 1,485 (2022)| owner = Symphony Technology Group| subsid = avid.com}}Burlington, Massachusetts, United StatesDATE=MARCH 1, 2023, U.S. Securities and Exchange Commission, }}Avid Technology, Inc. is an American technology and multimedia company that develops digital non-linear editing (NLE) systems, video editing software, audio editing software, music notation software and management and distribution services. It is based in Burlington, Massachusetts, and was founded in August 1987 by Bill Warner.WEB,www.avid.com/company/, About Avid, Avid Technology, 2009-01-16,www.avid.com/company/," title="web.archive.org/web/20090116131859www.avid.com/company/,">web.archive.org/web/20090116131859www.avid.com/company/, 16 January 2009, dead, WEB,www.avid.com/pressroom/corp_bg.html, Avid Corporate Background, Avid Technology, 2009-01-16,www.avid.com/pressroom/corp_bg.html," title="web.archive.org/web/20081230054204www.avid.com/pressroom/corp_bg.html,">web.archive.org/web/20081230054204www.avid.com/pressroom/corp_bg.html, 30 December 2008, dead, Avid products are used in the television and video industry to create television shows, feature films, and commercials. Media Composer, a professional non-linear editing system, is Avid’s flagship product.WEB, Avid unveils the all-new Media Composer 2019,apb-news.com/avid-unveils-the-all-new-media-composer-2019/, 2019-06-19, APB+ News, en-US, 2020-05-12,

History

Avid was founded by Bill Warner, a former marketing manager from Apollo Computer. A prototype of their first non-linear editing system, the Avid/1 Media Composer, was shown at the National Association of Broadcasters (NAB) convention in April 1988. The Avid/1 was based on an Apple Macintosh II computer, with special hardware and software of Avid’s design installed.The Avid/1 was “the biggest shake-up in editing since Melies played with time and sequences in the early 1900s”.Russell Evans, Practical DV Filmmaking, Focal Press, 2005 {{ISBN|0-240-80738-3}}, {{ISBN|978-0-240-80738-6}} page 13 By the early 1990s, Avid products began to replace such tools as the Moviola, Steenbeck, and KEM flatbed editors, allowing editors to handle their film creations with greater ease. The first feature film edited using the Avid was Let’s Kill All the Lawyers in 1992, directed by Ron Senkowski. The film was edited at a 30fps NTSC rate, then used Avid MediaMatch to generate a negative cutlist from the EDL.WEB,www.imdb.com/name/nm0784374/, Ron Senkowski, IMDb, WEB, Kennedy, Ashley, Fun Facts and Dates in Digital Editing ‘Firsts’, 10 December 2011,www.premiumbeat.com/blog/fun-facts-and-dates-in-digital-editing-firsts/, 27 April 2017, The first feature film edited natively at 24fps with what was to become the Avid Film Composer was Emerson Park. The first studio film to be edited at 24fps was Lost in Yonkers, directed by Martha Coolidge. By 1994 only three feature films used the new digital editing system. By 1995 dozens had switched to Avid, and it signaled the beginning of the end of cutting celluloid. In 1996 Walter Murch accepted the Academy Award for editing The English Patient (which also won best picture), which he cut on the Avid. This was the first Editing Oscar awarded to a digitally edited film (although the final print was still created with traditional negative cutting).Scott Kirsner, Inventing the Movies: Hollywood’s Epic Battle Between Innovation and the Status Quo, from Thomas Edison to Steve Jobs (2008) Publisher Scott Kirsner, {{ISBN|1-4382-0999-1}}, {{ISBN|978-1-4382-0999-9}} page 84-85(File:Avid logo.svg|thumb|Avid, logo, used from 2007)(File:2009 Avid logo.svg|thumb|Avid, logo, used from 2009)(File:Avid logo purple 2017.svg|thumb|Avid, logo, used from 2017)(File:Pure Purple AVID Logo.svg|thumb|Avid, logo, used from 2019)In 1994 Avid introduced Open Media Framework (OMF) as an open standard file format for sharing media and related metadata.In the past, Avid released Avid Free DV, a free edition of Media Composer with limited functionality; Xpress DV, a consumer edition of Media Composer; and Xpress Pro, a prosumer edition of Media Composer. These editions were discontinued in 2008 as the flagship Media Composer was lowered in price.On March 29, 1999, Avid Technology, Inc. adjusted the amount originally allocated to IPR&D and restated its third-quarter 1998 consolidated financial statements accordingly, considering the SEC’s views.WEB,www.thefreelibrary.com/Avid+Technology+Announces+Revaluation+of+Acquisition+Charges%3B+First...-a054243535, Avid Technology Announces Revaluation of Acquisition Charges, In February 2018, Avid appointed Jeff Rosica as CEO, after terminating Louis Hernandez Jr, who was accused of workplace misconduct.NEWS, Avid Technology Announces Appointment of Jeff Rosica as Chief Executive Officer and Termination of Louis Hernandez, Jr.,www.avid.com/press-room/2018/02/jeff-rosica-appointed-ceo, 19 October 2019, Avid, 26 February 2018, In May 2023, Reuters reported that Avid was exploring selling the company.NEWS, Vinn, Milana, 2023-05-24, Exclusive: Media editing software vendor Avid explores sale -sources, en, Reuters,www.reuters.com/technology/space/media-editing-software-vendor-avid-explores-sale-sources-2023-05-24/, 2023-06-30, In August 2023, Avid Technology entered into a definitive agreement to be acquired by an affiliate of STG for $1.4 billion,WEB, 2023-08-09, Avid Technology Enters into Definitive Agreement to Be Acquired by an Affiliate of STG for $1.4 Billion,www.globenewswire.com/news-release/2023/08/09/2722194/29073/en/Avid-Technology-Enters-into-Definitive-Agreement-to-Be-Acquired-by-an-Affiliate-of-STG-for-1-4-Billion.html, 2023-08-09, GlobeNewswire News Room, en, which was finalized three months later.NEWS, Giardina, Carolyn, November 7, 2023, Private Equity Firm STG Completes Acquisition of Avid for $1.4B,www.hollywoodreporter.com/business/business-news/stg-completes-avid-acquisition-1235638903/, The Hollywood Reporter,

Awards

In 1993, the National Academy of Television Arts & Sciences awarded Avid Technology and all of the company’s initial employees with a technical Emmy award for Outstanding Engineering Development for the Avid Media Composer video editing system.Steve Hall Charged With Ensuring Reliable, Consistent IT Service {{webarchive|url=https://web.archive.org/web/20130131063836www.uml.edu/it/newsletter/content/print_1_210811_210811.html |date=2013-01-31 }}Curiosity Expert: William J. WarnerOn March 21, 1999, at the 71st Academy Awards, Avid Technology Inc. was awarded an Oscar for the concept, system design and engineering of the Avid Film Composer for motion picture editing which was accepted by founder Bill Warner.WEB,awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216, Oscars Awards Database, 2014-05-25,awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216," title="archive.today/20140525081821awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216,">archive.today/20140525081821awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216, 2014-05-25, dead,

Acquisitions

{| class=“wikitable” style="text-align:left“! Acquired! Company! Details!Sold!1994|EditDroidnon-linear editing (NLE) system which was developed by Lucasfilm spin-off company.2012-06-28 url=http://www.lucasfilm.com/inside/history/ archive-url=https://web.archive.org/web/20120628080154www.lucasfilm.com/inside/history/ |archive-date=2012-06-28 }}|! 1993| DiVA Corporation| developer of Videoshop, Quicktime-based home video editing software|! rowspan=“3” | 1994| DigidesignPro Tools, digital audio workstation, and Venue (sound system)>Venue, brand of digital mixing consoles|| Basys| ITN’s newsroom computer and automation system (from Digital Equipment Corporation), then implemented into iNews in 2001|| Newsviewreason=|date=December 2019}}|! rowspan=“2” | 1995| Elastic Reality, Inc.Avid Elastic Reality>Elastic Reality, morphing software|| Parallax SoftwareAvid Matador>Matador, Illusion and Jester, ink-and-paint software|! rowspan=“2” | 1998Softimage (company)>SoftimageSoftimage 3D>Softimage{{!}}3D, 3D graphics software (previously subsidiary of Microsoft)|2008 (to Autodesk)| NewStarGrass Valley (company)>Grass Valley—then owners of Lightworks{{Clarifydate=December 2019}}|! rowspan=“2” | 2000| Motion FactoryWEBSITE=ANIMATION WORLD NETWORKACCESS-DATE=2019-12-17, || Pluto TechnologyDirect to disk recording>DDR playback servers|! 2002| iKnowledge| developer of Active Content Manager, newsroom management software|! 2003| Rocket Networksfile transfer systemHTTP://WWW.CERITHOMAS.COM/BLOG/2010/2/24/DIGIDELIVERY-THE-DEMISE-OF-A-GREAT-PRODUCT.HTMLWEBSITE=CERI THOMASLANGUAGE=EN-US, 2019-12-17, Aspera (company)>Aspera)! rowspan=“3” | 2004| NXNMedia asset management>Media Asset Management software components|Bomb Factory Studio>Bomb Factory| audio plug-ins developer || M-Audio| audio interfaces and equipment manufacturerInMusic Brands>inMusic)! rowspan=“2” | 2005Pinnacle Systems, Inc.>Pinnacle Systems|digital video hardware and software manufacturer|2012 (to Corel)| WizooWEBSITE=WWW.SOUNDONSOUND.COM, 2019-12-17, developed AIR (Advanced Instrument Research), series of plug-ins and virtual instruments subsequently included in Pro Tools|2012 (to inMusic)! rowspan=“4” | 2006| Medéa Corporation| high-speed RAID storage manufacturer|| Sundance Digital| broadcast automation software||Sibelius SoftwareSibelius (scorewriter)>Sibelius, notation software|| Maximum ThroughputLAST1=SEPTEMBER 23LAST2=PMDATE=2009-09-08LANGUAGE=EN-US, 2019-12-17, |! rowspan=“2” | 2010| Blue Order Solutions AG|Media asset management software||Euphonix| digital mixing console and control surface manufacturer; EuCon protocols were integrated into Pro Tools; the Artist Series and System 5 Family were added to Avid control surfaces|!2012|Rocket NetworkDATE=2003-04-10LANGUAGE=EN-US, 2020-05-14, |! 2015| Orad SystemsWEBSITE=WWW.AVID.COM, 2019-12-17, |

See also

• List of music software
• List of video editing software
• List of scorewriters

References

{{Reflist}}

External links

• {{Official website}}

{{Finance links historical| name = Avid Technology| symbol = AVID| reuters = AVID.O| bloomberg = AVID:US| sec_cik = 896841| yahoo = AVID| google = AVID:NASDAQ}}{{Authority control}}