Broadcast News
13/08/2004
Avid to acquire M-Audio
Avid Technology has entered into a definitive agreement to acquire Midiman, Inc., doing business as M-Audio – a leading provider of digital audio and MIDI solutions for electronic musicians and audio professionals.
At closing, Avid will pay approximately $80 million in cash, issue approximately two million shares of Avid common stock, and assume all outstanding M-Audio stock options. The deal also includes earn-out provisions, which would be payable to M-Audio’s equity holders based on the successful achievement of certain financial milestones.
Under the terms of the agreement, M-Audio will become a business unit of Avid’s Digidesign audio division and market its line of computer audio peripherals, PCI sound cards, keyboard controllers and control surfaces, microphones, speakers, and distributed software and proprietary sound libraries alongside Digidesign’s award-winning digital audio workstations for the professional and home/hobbyist markets.
“Over the past several years, Digidesign has established itself as the clear leader in digital audio solutions for the professional studio and home recording markets,” said David Krall, Avid’s president and chief executive officer. “With this acquisition, we’re bolstering our investment in the home studio market segment, the fastest growing portion of our audio business, where we achieved roughly 40% year-over-year growth in Q2 of 2004. We believe the addition of M-Audio to the Avid family will put us in a position to provide a complete set of creative tools to the market, from entry-level music hobbyists with home studios to facility owners, recording artists, audio engineers, and film sound professionals.”
Digidesign general manager and Avid vice president Dave Lebolt commented: “The entry-level audio market offers attractive growth opportunities, and both Digidesign and M-Audio have demonstrated solid successes in this area. As a combined entity, Digidesign and M-Audio can tap into subsegments of this market that we would not otherwise reach as strongly on our own. At the same time, Digidesign will continue to focus in the professional audio space, including the expansion we’ve targeted in the mixing and live sound markets, while M-Audio will further extend its reach to an even wider consumer base. As a result, Avid will have a range of new capabilities to address the audio business, and customers will have a broader set of audio options to meet their increasingly diverse needs.”
(GB)
At closing, Avid will pay approximately $80 million in cash, issue approximately two million shares of Avid common stock, and assume all outstanding M-Audio stock options. The deal also includes earn-out provisions, which would be payable to M-Audio’s equity holders based on the successful achievement of certain financial milestones.
Under the terms of the agreement, M-Audio will become a business unit of Avid’s Digidesign audio division and market its line of computer audio peripherals, PCI sound cards, keyboard controllers and control surfaces, microphones, speakers, and distributed software and proprietary sound libraries alongside Digidesign’s award-winning digital audio workstations for the professional and home/hobbyist markets.
“Over the past several years, Digidesign has established itself as the clear leader in digital audio solutions for the professional studio and home recording markets,” said David Krall, Avid’s president and chief executive officer. “With this acquisition, we’re bolstering our investment in the home studio market segment, the fastest growing portion of our audio business, where we achieved roughly 40% year-over-year growth in Q2 of 2004. We believe the addition of M-Audio to the Avid family will put us in a position to provide a complete set of creative tools to the market, from entry-level music hobbyists with home studios to facility owners, recording artists, audio engineers, and film sound professionals.”
Digidesign general manager and Avid vice president Dave Lebolt commented: “The entry-level audio market offers attractive growth opportunities, and both Digidesign and M-Audio have demonstrated solid successes in this area. As a combined entity, Digidesign and M-Audio can tap into subsegments of this market that we would not otherwise reach as strongly on our own. At the same time, Digidesign will continue to focus in the professional audio space, including the expansion we’ve targeted in the mixing and live sound markets, while M-Audio will further extend its reach to an even wider consumer base. As a result, Avid will have a range of new capabilities to address the audio business, and customers will have a broader set of audio options to meet their increasingly diverse needs.”
(GB)
Top Related Stories
Click here for the latest broadcast news stories.
24/02/2020
Audio-Technica Partners With Audio Pro Business
Audio-Technica has announced a partnership with Audio Pro Business which will see the Swedish speaker manufacturer join Audio-Technica's portfolio of
Audio-Technica Partners With Audio Pro Business
Audio-Technica has announced a partnership with Audio Pro Business which will see the Swedish speaker manufacturer join Audio-Technica's portfolio of
13/07/2022
Avid Unveils Avid NEXIS
Avid® has unveiled the next generation of its patented Avid NEXIS® shared storage solutions with the Avid NEXIS F-series family of storage engines and
Avid Unveils Avid NEXIS
Avid® has unveiled the next generation of its patented Avid NEXIS® shared storage solutions with the Avid NEXIS F-series family of storage engines and
11/11/2016
What Is The Future For Immersive Audio?
Peter Poers, Managing Director at Jünger Audio, looks at production efforts versus consumer experience. Introduction Along with the evolution of highe
What Is The Future For Immersive Audio?
Peter Poers, Managing Director at Jünger Audio, looks at production efforts versus consumer experience. Introduction Along with the evolution of highe
18/11/2024
W E Audio Invests In Martin Audio WPL
Long-term Martin Audio rental partner, W E Audio, recently underlined its commitment to the British manufacturer, by making a massive investment acros
W E Audio Invests In Martin Audio WPL
Long-term Martin Audio rental partner, W E Audio, recently underlined its commitment to the British manufacturer, by making a massive investment acros
20/02/2024
NADiV Audio Introduces Range Of Dante Audio And Control Devices
NADiV Audio has launched its NADiV range of Dante-enabled audio interface and control devices for portable and installed AV and pro audio environments
NADiV Audio Introduces Range Of Dante Audio And Control Devices
NADiV Audio has launched its NADiV range of Dante-enabled audio interface and control devices for portable and installed AV and pro audio environments
28/07/2023
DHD audio Unveils XS3 Core Audio Processor
DHD audio has announced a new addition to its modular range of audio studio equipment and systems. The XS3 core audio processor supports up to 20 ster
DHD audio Unveils XS3 Core Audio Processor
DHD audio has announced a new addition to its modular range of audio studio equipment and systems. The XS3 core audio processor supports up to 20 ster
17/07/2023
ES-Pro Audio Appointed To Handle Prism Sound's Range Of Audio Converters
Prism Sound has appointed ES-Pro Audio to handle its entire range of audio converters to the professional market in Germany. Formerly a Prism Sound re
ES-Pro Audio Appointed To Handle Prism Sound's Range Of Audio Converters
Prism Sound has appointed ES-Pro Audio to handle its entire range of audio converters to the professional market in Germany. Formerly a Prism Sound re
22/05/2023
Synthax Audio Appointed Distributor For TIERRA Audio
Synthax Audio UK has been appointed UK and Ireland distributor for TIERRA Audio's range of professional audio products. Founded in 2018 in Madrid, Spa
Synthax Audio Appointed Distributor For TIERRA Audio
Synthax Audio UK has been appointed UK and Ireland distributor for TIERRA Audio's range of professional audio products. Founded in 2018 in Madrid, Spa
12/04/2023
Audio-Technica's BP3600 Immersive Audio Microphone Now Available
Audio-Technica has announced scheduled availability in Europe and the UK for its recently launched BP3600 Immersive Audio Microphone. A premium broadc
Audio-Technica's BP3600 Immersive Audio Microphone Now Available
Audio-Technica has announced scheduled availability in Europe and the UK for its recently launched BP3600 Immersive Audio Microphone. A premium broadc
31/03/2023
Digital Audio Denmark Introduces AX Center Thunder|Core Audio Interface
Digital Audio Denmark's new AX Center is a dedicated Thunderbolt modular audio interface with dual mic and instrument inputs, dual headphone and monit
Digital Audio Denmark Introduces AX Center Thunder|Core Audio Interface
Digital Audio Denmark's new AX Center is a dedicated Thunderbolt modular audio interface with dual mic and instrument inputs, dual headphone and monit
13/09/2022
Calrec Audio Unveils New Audio Mixing System
At IBC 2022 Calrec Audio will unveiled a new audio mixing system designed to keep pace with the changes broadcasters are experiencing in their product
Calrec Audio Unveils New Audio Mixing System
At IBC 2022 Calrec Audio will unveiled a new audio mixing system designed to keep pace with the changes broadcasters are experiencing in their product
27/07/2022
AETA Audio Systems Adds 5G To Its ScoopFone Audio Codec
AETA Audio Systems has added 5G capability to its ScoopFone audio codec. The company continues to take the lead in innovation by offering a simple and
AETA Audio Systems Adds 5G To Its ScoopFone Audio Codec
AETA Audio Systems has added 5G capability to its ScoopFone audio codec. The company continues to take the lead in innovation by offering a simple and
04/07/2022
Optimal Audio Selects Audio Brands
Optimal Audio has appointed Audio Brands as its exclusive distributor in Australia. Optimal Audio, part of the Focusrite Group, manufactures a one-sto
Optimal Audio Selects Audio Brands
Optimal Audio has appointed Audio Brands as its exclusive distributor in Australia. Optimal Audio, part of the Focusrite Group, manufactures a one-sto
16/12/2021
Audio Mixer Justin Merrill Relies On NUGEN Audio For High-Profile Projects
While he began his music career recording with a band in high school, GRAMMY Award-winning Audio Mixer Justin Merrill found his sweet spot 'behind the
Audio Mixer Justin Merrill Relies On NUGEN Audio For High-Profile Projects
While he began his music career recording with a band in high school, GRAMMY Award-winning Audio Mixer Justin Merrill found his sweet spot 'behind the
03/10/2019
DHD Audio Announces Additions To Audio Mixing Consoles
DHD Audio has announced five major additions to the capabilities of its RX2, SX2, 52/TX and 52/MX audio mixing consoles. Introduced at IBC 2019 in Ams
DHD Audio Announces Additions To Audio Mixing Consoles
DHD Audio has announced five major additions to the capabilities of its RX2, SX2, 52/TX and 52/MX audio mixing consoles. Introduced at IBC 2019 in Ams