Avid To Acquire Wolftech Broadcast Solutions

Avid® has entered into a definitive agreement to acquire Wolftech Broadcast Solutions, the industry leader in cloud-based multiplatform planning and publishing news production solutions.

This strategic move illustrates Avid's focus on transforming news, sports, and live production workflows.

The acquisition will allow Avid to combine its digital-first, end-to-end media solution with Wolftech's expertise in story-centric workflow management. The integration of Wolftech and Avid is intended to enable news organizations to rapidly deliver stories through multiplatform amplification, significantly increasing efficiency and improving remote collaboration.

Avid and Wolftech are committed to openness and customer choice. Wolftech already integrates with a wide range of tools, including Avid MediaCentral, and will continue to build integrations with Avid solutions and other industry-leading platforms. With this acquisition, Avid will deepen the integration between the two toolsets while continuing to partner with a wide range of media production tools and newsroom systems. Existing Wolftech customers will benefit from Avid's global scale for customer support and professional services.

The planned acquisition of Wolftech positions Avid to deliver a unified suite of integrated tools with unique AI-powered features that will enable news production organizations to:

Break Down Silos: Unlock creativity and operational clarity by breaking down silos between digital, broadcast and long-form teams.
Increase Efficiency: Get the most out of resources with sophisticated planning and analytics tools.
Focus on the Story: Capture audiences and amplify stories faster across any distribution platform.
Get Teams Interacting: Centralize communication and optimize team collaboration, from newsroom to remote and field, with web and mobile tools.
Move as Technology Moves: Leverage an integration engine, open API and AI framework to easily build and evolve innovative and modular workflows, from lens to edit and beyond, for the ultimate connected newsroom.

Wellford Dillard, CEO of Avid Technology, commented on the acquisition, stated: "We are thrilled to welcome Wolftech to the Avid family. This acquisition strengthens Avid's position in the news market and underscores our commitment to deliver best-in-class solutions that empower news organizations to thrive in today's fast-paced digital landscape. Together, Avid and Wolftech will change the game for news production teams, delivering innovative tools and workflows that enable compelling, yet efficient, storytelling."

www.avid.com