Avid technology enters into definitive agreement to be acquired by an affiliate of stg for $1.4 billion

Stockholders to receive $27.05 per share in cash transaction represents 32.1% premium to avid's unaffected share price on may 23, 2023 avid to become a privately held company upon completion of the transaction burlington, mass., aug. 09, 2023 (globe newswire) -- avid® (nasdaq: avid), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into a definitive agreement to be acquired by an affiliate of stg in an all-cash transaction valuing avid at approximately $1.4 billion, inclusive of avid's net debt.
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