Avid Technology

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

{{Infobox company

| name = Avid Technology, Inc.

| logo = Pure Purple AVID Logo.svg

| type = Private

| founder = Bill Warner

| key_people = Wellford Dillard (CEO)

| industry = Computer software, Technology, Multimedia

| products = Pro Tools, Media Composer, 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)

| owner = Symphony Technology Group

| subsid =

| website = {{URL|https://www.avid.com/}}

| foundation = {{start date and age|1987|08}}

| location = Burlington, Massachusetts, United States

| footnotes = {{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/896841/000089684123000019/avid-20221231.htm |title=Avid Technology, Inc. 2022 Annual Report (Form 10-K) |date=March 1, 2023 |publisher=U.S. Securities and Exchange Commission}}

}}

Avid Technology, Inc. is a global technology company headquartered in Burlington, Massachusetts, and was founded in August 1987 by Bill Warner. It develops software, SaaS, and hardware products used in media and entertainment.

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.{{cite web|last1=Kennedy|first1=Ashley|title=Fun Facts and Dates in Digital Editing 'Firsts'|date=10 December 2011|url=https://www.premiumbeat.com/blog/fun-facts-and-dates-in-digital-editing-firsts/|access-date=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

In 1994 Avid introduced Open Media Framework (OMF) as an open standard file format for sharing media and related metadata.

Over the years, Avid has released numerous freeware versions of Media Composer. Initially this included Avid Free DV: a free edition of Media Composer with limited functionality; Avid Xpress DV: a consumer edition of Media Composer; and then Avid Xpress Pro: a prosumer edition of Media Composer. These editions were discontinued in 2008 as the flagship Media Composer was lowered in price. Later, Avid released Media Composer | First, which included a large portion of Media Composer's functionality but its exporting workflows publishing finished videos directly to web services like YouTube.

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.{{cite web |url= http://www.thefreelibrary.com/Avid+Technology+Announces+Revaluation+of+Acquisition+Charges%3B+First...-a054243535| title=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.{{cite news |title=Avid Technology Announces Appointment of Jeff Rosica as Chief Executive Officer and Termination of Louis Hernandez, Jr. |url=https://www.avid.com/press-room/2018/02/jeff-rosica-appointed-ceo |access-date=19 October 2019 |work=Avid |date=26 February 2018}}

In November 2023, Avid Technology was acquired by an affiliate of STG for $1.4 billion.{{Cite news |last=Giardina |first=Carolyn |date=November 7, 2023 |title=Private Equity Firm STG Completes Acquisition of Avid for $1.4B |url=https://www.hollywoodreporter.com/business/business-news/stg-completes-avid-acquisition-1235638903/ |work=The Hollywood Reporter}} This process delisted Avid from the public stock exchange, making it private.

In April 2024, Avid appointed Wellford Dillard as CEO, succeeding Jeff Rosica.{{Cite web |last=Giardina |first=Carolyn |date=2024-04-02 |title=Avid Names Wellford Dillard as CEO |url=https://variety.com/2024/artisans/news/avid-ceo-wellford-dillard-1235958156/ |access-date=2025-05-22 |website=Variety |language=en-US}}

Products

Awards

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.[http://www.uml.edu/it/newsletter/content/print_1_210811_210811.html Steve Hall Charged With Ensuring Reliable, Consistent IT Service] {{webarchive|url=https://web.archive.org/web/20130131063836/http://www.uml.edu/it/newsletter/content/print_1_210811_210811.html |date=2013-01-31 }}[http://www.discovery.com/tv-shows/curiosity/topics/william-warner.htm Curiosity Expert: William J. Warner]

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.{{Cite web |url=http://awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216 |title=Oscars Awards Database |access-date=2014-05-25 |archive-url=https://archive.today/20140525081821/http://awardsdatabase.oscars.org/ampas_awards/DisplayMain.jsp?curTime=1400952638216 |archive-date=2014-05-25 |url-status=dead }}

Acquisitions

class="wikitable"
style="text-align:left" ! Acquired ! Company ! Details !Sold
rowspan="2" \|1993 \|EditDroid \|A computerized analog non-linear editing (NLE) system which was developed by Lucasfilm spin-off company.{{Cite web \|date=2012-06-28 \|title=Lucasfilm: Inside Lucasfilm {{!}} Company History \|url=http://www.lucasfilm.com/inside/history/ \|access-date=2022-06-23 \|archive-url=https://web.archive.org/web/20120628080154/http://www.lucasfilm.com/inside/history/ \|archive-date=2012-06-28 }} \|
DiVA Corporation \| developer of Videoshop, Quicktime-based home video editing software \|
rowspan="3" \| 1994 \| Digidesign \| developer of Pro Tools, digital audio workstation, and Venue, brand of digital mixing consoles \|
Basys \| ITN's newsroom computer and automation system (from Digital Equipment Corporation), then implemented into iNews in 2001 \|
Newsview \| Novell-based newsroom computer system{{Clarify\|reason=\|date=December 2019}} \|
rowspan="2" \| 1995 \| Elastic Reality, Inc. \| developer of Elastic Reality, morphing software \|
Parallax Software \| developer of Matador, Illusion and Jester, ink-and-paint software \|
rowspan="2" \| 1998 \|Softimage \| developer of Softimage{{!}}3D, 3D graphics software (previously subsidiary of Microsoft) \|2008 (to Autodesk)
NewStar \| strategic alliance Avstar with Grass Valley—then owners of Lightworks{{Clarify\|reason=\|date=December 2019}} \|
rowspan="2" \| 2000 \| Motion Factory \| developer of interactive 3D software for games and the Web{{Cite web\|url=https://www.awn.com/news/avid-acquires-3d-software-company-motion-factory\|title=Avid Acquires 3D Software Company Motion Factory\|website=Animation World Network\|language=en\|access-date=2019-12-17}} \|
Pluto Technology \| DDR playback servers \|
2002 \| iKnowledge \| developer of Active Content Manager, newsroom management software \|
2003 \| Rocket Networks \| private sharing network technology for Internet collaboration, then implemented in Digidelivery, encrypted file transfer system{{Cite web\|url=http://www.cerithomas.com/blog/2010/2/24/digidelivery-the-demise-of-a-great-product.html\|title=Digidelivery – The demise of a great product\|website=Ceri Thomas\|date=24 February 2010 \|language=en-US\|access-date=2019-12-17}} \|2007 (to Aspera)
rowspan="3" \| 2004 \| NXN \|Media Asset Management software components \|
Bomb Factory \| audio plug-ins developer \|
M-Audio \| audio interfaces and equipment manufacturer \|2012 (to inMusic)
rowspan="2" \| 2005 \|Pinnacle Systems \|digital video hardware and software manufacturer \|2012 (to Corel)
Wizoo \| virtual instrument, plug-in effect and sample library designer;{{Cite web\|url=https://www.soundonsound.com/news/digidesign-buy-wizoo\|title=Digidesign buy Wizoo\|website=www.soundonsound.com\|access-date=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 Software \| developer of Sibelius, notation software \|
Maximum Throughput{{Cite web \|title=Avid Acquires Maximum Throughput {{!}} Mergr M&A Deal Summary \|url=https://mergr.com/transaction/avid-technology-acquires-maximum-throughput \|access-date=2024-10-31 \|website=mergr.com}} \| developer of MAXedit, visual effects editing software{{Cite web\|url=https://www.fxguide.com/quicktakes/more-transitions-avid-acquired-max-t/\|title=More transitions – Avid acquired Max-T\|last1=September 23\|first1=Alex Udell\|last2=Pm\|first2=2009 at 6:06\|date=2009-09-08\|website=fxguide\|language=en-US\|access-date=2019-12-17}} \|
rowspan="2" \| 2010 \| Blue Order Solutions AG{{Cite web \|last=Kerschbaumer \|first=Ken \|date=2010-03-12 \|title=Avid Acquires Blue Order, Ties Media Asset Management to Production Workflows \|url=https://www.sportsvideo.org/2010/03/12/avid-acquires-blue-order-ties-media-asset-management-to-production-workflows/ \|access-date=2024-10-31 \|website=Sports Video Group \|language=en}} \|Media asset management software \|
Euphonix{{Cite web \|author1=TVTechnology \|date=2010-04-22 \|title=Avid Acquires Euphonix \|url=https://www.tvtechnology.com/news/avid-acquires-euphonix \|access-date=2024-10-31 \|website=TVTechnology \|language=en}} \| 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 Network \|provides online music recording studios{{Cite web\|title=Avid Acquires Rocket Network's Assets\|url=https://www.mixonline.com/recording/avid-acquires-rocket-networks-assets-375474\|date=2003-04-10\|website=Mixonline\|language=en-US\|access-date=2020-05-14}} \|
2015 \| Orad Systems \| developer of 3D real-time graphics and video servers products, then integrated into the MediaCentral Platform{{Cite web\|url=https://www.avid.com/press-room/2015/06/orad-hi-tec-systems\|title=Avid Completes Acquisition of Orad Hi-Tec Systems\|website=www.avid.com\|access-date=2019-12-17}} \|
2024 \|Wolftech \|provider of story-centric workflow management solutions to large broadcasters, enhancing collaboration and efficiency in news gathering & story creation \|

class="wikitable"

style="text-align:left"

! Acquired

! Company

! Details

!Sold

rowspan="2" |1993

|EditDroid

|A computerized analog non-linear editing (NLE) system which was developed by Lucasfilm spin-off company.{{Cite web |date=2012-06-28 |title=Lucasfilm: Inside Lucasfilm {{!}} Company History |url=http://www.lucasfilm.com/inside/history/ |access-date=2022-06-23 |archive-url=https://web.archive.org/web/20120628080154/http://www.lucasfilm.com/inside/history/ |archive-date=2012-06-28 }}

DiVA Corporation

| developer of Videoshop, Quicktime-based home video editing software

rowspan="3" | 1994

| Digidesign

| developer of Pro Tools, digital audio workstation, and Venue, brand of digital mixing consoles

Basys

| ITN's newsroom computer and automation system (from Digital Equipment Corporation), then implemented into iNews in 2001

Newsview

| Novell-based newsroom computer system{{Clarify|reason=|date=December 2019}}

rowspan="2" | 1995

| Elastic Reality, Inc.

| developer of Elastic Reality, morphing software

Parallax Software

| developer of Matador, Illusion and Jester, ink-and-paint software

rowspan="2" | 1998

|Softimage

| developer of Softimage{{!}}3D, 3D graphics software (previously subsidiary of Microsoft)

|2008 (to Autodesk)

NewStar

| strategic alliance Avstar with Grass Valley—then owners of Lightworks{{Clarify|reason=|date=December 2019}}

rowspan="2" | 2000

| Motion Factory

| developer of interactive 3D software for games and the Web{{Cite web|url=https://www.awn.com/news/avid-acquires-3d-software-company-motion-factory|title=Avid Acquires 3D Software Company Motion Factory|website=Animation World Network|language=en|access-date=2019-12-17}}

Pluto Technology

| DDR playback servers

2002

| iKnowledge

| developer of Active Content Manager, newsroom management software

2003

| Rocket Networks

| private sharing network technology for Internet collaboration, then implemented in Digidelivery, encrypted file transfer system{{Cite web|url=http://www.cerithomas.com/blog/2010/2/24/digidelivery-the-demise-of-a-great-product.html|title=Digidelivery – The demise of a great product|website=Ceri Thomas|date=24 February 2010 |language=en-US|access-date=2019-12-17}}

|2007 (to Aspera)

rowspan="3" | 2004

| NXN

|Media Asset Management software components

Bomb Factory

| audio plug-ins developer

M-Audio

| audio interfaces and equipment manufacturer

|2012 (to inMusic)

rowspan="2" | 2005

|Pinnacle Systems

|digital video hardware and software manufacturer

|2012 (to Corel)

Wizoo

| virtual instrument, plug-in effect and sample library designer;{{Cite web|url=https://www.soundonsound.com/news/digidesign-buy-wizoo|title=Digidesign buy Wizoo|website=www.soundonsound.com|access-date=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 Software

| developer of Sibelius, notation software

Maximum Throughput{{Cite web |title=Avid Acquires Maximum Throughput {{!}} Mergr M&A Deal Summary |url=https://mergr.com/transaction/avid-technology-acquires-maximum-throughput |access-date=2024-10-31 |website=mergr.com}}

| developer of MAXedit, visual effects editing software{{Cite web|url=https://www.fxguide.com/quicktakes/more-transitions-avid-acquired-max-t/|title=More transitions – Avid acquired Max-T|last1=September 23|first1=Alex Udell|last2=Pm|first2=2009 at 6:06|date=2009-09-08|website=fxguide|language=en-US|access-date=2019-12-17}}

rowspan="2" | 2010

| Blue Order Solutions AG{{Cite web |last=Kerschbaumer |first=Ken |date=2010-03-12 |title=Avid Acquires Blue Order, Ties Media Asset Management to Production Workflows |url=https://www.sportsvideo.org/2010/03/12/avid-acquires-blue-order-ties-media-asset-management-to-production-workflows/ |access-date=2024-10-31 |website=Sports Video Group |language=en}}

|Media asset management software

Euphonix{{Cite web |author1=TVTechnology |date=2010-04-22 |title=Avid Acquires Euphonix |url=https://www.tvtechnology.com/news/avid-acquires-euphonix |access-date=2024-10-31 |website=TVTechnology |language=en}}

| 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 Network

|provides online music recording studios{{Cite web|title=Avid Acquires Rocket Network's Assets|url=https://www.mixonline.com/recording/avid-acquires-rocket-networks-assets-375474|date=2003-04-10|website=Mixonline|language=en-US|access-date=2020-05-14}}

2015

| Orad Systems

| developer of 3D real-time graphics and video servers products, then integrated into the MediaCentral Platform{{Cite web|url=https://www.avid.com/press-room/2015/06/orad-hi-tec-systems|title=Avid Completes Acquisition of Orad Hi-Tec Systems|website=www.avid.com|access-date=2019-12-17}}

2024

|Wolftech

|provider of story-centric workflow management solutions to large broadcasters, enhancing collaboration and efficiency in news gathering & story creation