Avid Technology: Difference between revisions
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===Avid removes Perpetual Plan options for Pro Tools users (April 2022)=== | ===Avid removes Perpetual Plan options for Pro Tools users (April 2022)=== | ||
Avid in April of 2022 removed the option for customers to buy new or Software Updates + Support Plan contracts for existing perpetual Pro Tools users. Following considerable industry backlash, Avid reinstated Perpetual licenses and Support Plan contract renewals through authorized 3rd party resellers in 2023.<ref>{{Cite web |last=Holt |first=Kris |date=27 April 2022 |title=Pro Tools is now only available as a subscription service |url=https://www.engadget.com/pro-tools-subscription-service-perpetual-license-160010247.html |url-status=live |archive-url=https://web.archive.org/web/20241109140342/https://www.engadget.com/pro-tools-subscription-service-perpetual-license-160010247.html |archive-date= | Avid in April of 2022 removed the option for customers to buy new or Software Updates + Support Plan contracts for existing perpetual Pro Tools users. Following considerable industry backlash, Avid reinstated Perpetual licenses and Support Plan contract renewals through authorized 3rd party resellers in 2023.<ref>{{Cite web |last=Holt |first=Kris |date=27 April 2022 |title=Pro Tools is now only available as a subscription service |url=https://www.engadget.com/pro-tools-subscription-service-perpetual-license-160010247.html |url-status=live |archive-url=https://web.archive.org/web/20241109140342/https://www.engadget.com/pro-tools-subscription-service-perpetual-license-160010247.html |archive-date=9 Nov 2024 |access-date=29 Jun 2025 |website=Engadget}}</ref> | ||
===Avid is Acquired by an Affiliate of STG for USD $1.4B (Nov 2023)=== | ===Avid is Acquired by an Affiliate of STG for USD $1.4B (Nov 2023)=== | ||
Avid Technology was acquired by an affiliate of STG for 1.4 billion dollars in a cash-only deal. This delisted Avid from the NYSE and returned its status as a private entity. Subsequently, some of Avid's product development was outsourced to STG asset offices in India. | Avid Technology was acquired by an affiliate of [https://https://en.wikipedia.org/wiki/Symphony_Technology_Group STG (Symphony Technology Group)] for 1.4 billion dollars on November 7, 2023 in a cash-only deal.<ref>{{Cite web |date=7 Nov 2023 |title=STG Completes Acquisition of Avid Technology |url=https://stg.com/news/stg-completes-acquisition-of-avid-technology/ |url-status=live |archive-url=https://web.archive.org/web/20260307073724/https://stg.com/news/stg-completes-acquisition-of-avid-technology/ |archive-date=7 Mar 2026 |access-date=16 Apr 2026 |website=STG}}</ref> This delisted Avid from the NYSE and returned its status as a private entity.<ref>{{Cite web |title=Avid Technology (AVID) - Stock split history |url=https://companiesmarketcap.com/avid-technology/stock-splits/ |url-status=live |archive-url=https://web.archive.org/web/20260416175443/https://companiesmarketcap.com/avid-technology/stock-splits/ |archive-date=16 Apr 2026 |access-date=16 Apr 2026 |website=CompaniesMarketCap.com |quote=This company appears to have been delisted Reason: Acquired by Private Equity Firm STG Last recorded trade on: January 9, 2024}}</ref> Subsequently, some of Avid's product development was outsourced to STG asset offices in India.<!-- I could not find a verifiable source for this claim. --> | ||
==Products== | ==Products== | ||