TEWKSBURY, MA, Apr 21, 2010 (MARKETWIRE via COMTEX News Network) -- Avid(R) (NASDAQ: AVID) today announced that it has completed the acquisition of Mountain View, CA-based Euphonix, a leader in digital audio consoles, media controllers and peripherals. The initial agreement to acquire Euphonix was announced on April 11, 2010. With the acquisition, Avid will deliver a broad range of complementary audio and video control surfaces and consoles designed to meet the needs of customers ranging from the independent professional to the high-end broadcaster. The company plans to maintain full support for both the Euphonix family of products and Avid's existing ICON solutions.

Avid intends to further 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(R) and Pro Tools(R) systems. For existing customers, Avid will continue to support EuCon- a high-speed Ethernet protocol that enables Euphonix' control surfaces to interface with third-party software.

"The merging of the technology from Avid and Euphonix will certainly benefit CSS studios, most notably our motion picture sound facilities, Todd-AO and Soundelux," said Bill Johnston, Senior Vice President of Engineering and Technical Services, CSS Studios. "The integration of the Euphonix control surfaces with Pro Tools, and third-party applications, such as Nuendo, will help us to maximize the potential of our current investments. We are excited by Avid's commitment to further open up these control surfaces as this will continue to extend the capabilities of our current studio workflows."

Chris Gahagan, Senior Vice President of Products, Avid, said, "We are firmly committed to assuring that we further expand the openness and interoperability of both the Artist and Pro Series control surfaces. One of our first priorities is to assure we maintain all existing third-party software validations of these control surfaces and then fill any potential gaps by expanding support for a variety of additional software applications. This will be facilitated by our work to evolve EuCon into a truly open industry standard protocol."

About Avid Avid creates the digital audio and video technology used to make the most listened to, most watched and most loved media in the world - from the most prestigious and award-winning feature films, music recordings, television shows, live concert tours and news broadcasts, to music and movies made at home. Some of Avid's most influential and pioneering solutions include Media Composer, Pro Tools, Avid Unity(TM), Interplay(R), Oxygen 8, Sibelius(R) and Pinnacle Studio(TM). For more information about Avid solutions and services, visit www.avid.com, del.icio.us, Flickr, Twitter and YouTube; connect with Avid on Facebook; or subscribe to Avid Industry Buzz.

Copyright 2010 Avid Technology, Inc. All rights reserved. Avid, the Avid Logo, Avid Unity, Interplay, Media Composer, Pinnacle Studio, Pro Tools, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. The Interplay name is used with the permission of Interplay Entertainment Corp., which bears no responsibility for Avid products. All other trademarks are the property of their respective owners.

Contacts:
Press Christi Dean, 978-640-5147, Email Contact
Investors Tom Fitzsimmons, 978-640-3346, Email Contact

SOURCE: Avid

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