OT: Avid selling off consumer audio and video line

rs170a wrote on 7/2/2012, 2:55 PM
Avid has agreed to sell its consumer audio and video product lines. The company’s consumer audio products are being sold to inMusic, the parent company of Akai Professional, Alesis and Numark, among others. Headquartered in Cumberland, Rhode Island, inMusic's brands are best known for producing innovative products for music production, performance and DJing. The products involved in this transaction include M-Audio brand keyboards, controllers, interfaces, speakers and digital DJ equipment and other product lines. Avid will continue to develop and sell its industry-leading Pro Tools® line of software and hardware, as well as associated I/O devices including Mbox and Fast Track.
Read the whole press release at Avid Divests Consumer Businesses and Streamlines Operations

Mike

Comments

videoITguy wrote on 7/2/2012, 6:01 PM
The REAL news in the announcement - its NOT about the audio- that was totally predictable.

REAL Blow! Video going to Corel! How many great video products has this company absorbed and completely killed in the past?
[r]Evolution wrote on 7/2/2012, 7:01 PM
Sounds like they are investing in what they know.

It's cool that their Consumer 'stuff' will be going to a High-End Consumer-Based Company. A company that wants to invest in their niche and will probably push and do a lot more with the line than Avid ever would..

Right on Avid!
I hope.
GlennChan wrote on 7/4/2012, 4:58 AM
So Avid sold M-Audio and other products/companies (e.g. Pinnacle) for a total of $17 million? Only 17 million??? Is M-Audio by itself really worth less than $17M?

(Ok if the other companies assume certain liabilities/debts then the total purchase price would be above 17 million.)

From M-Audio's website:
craftech wrote on 7/4/2012, 5:58 AM
REAL Blow! Video going to Corel! How many great video products has this company absorbed and completely killed in the past?
============
The only one I have is DVD Movie Factory.
I had the Ulead version and later the Corel version.

It creates more reliable menu type Blu-ray discs than the much more expensive DVDA that Sony can't or won't fix.

John
videoITguy wrote on 7/4/2012, 12:19 PM
Well, it is precisely the point. The Audio line was worth something (don't know about the $millions, though). Corel's purchase of video products has been a history of purchasing a video property when it is virtually worthless. Avid dumped their line into the abyss. They rcvd. 0 on this score.

That is not to say, the properties such as Ulead used to be worth something, yes, even pacesetters in their day...now time has moved on.