It was a rumor for some time, now Avid confirms to be sold to STG
Prepare to have your assets stripped. Makes one feel lucky that Yamaha own Steinberg.
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Dear Avid Users,
Welcome to Steinberg.
Love,
History
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Steinberg: Bid on Eucon and Avid controllers. Buy. Rebrand. Develop further. Everyone happy.
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Interestingly enough, apparently the owners of Native Instruments/iZotope/PluginAlliance were also sniffing around, but didnāt end up with the deal.
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Also from Reuters a few months ago:
āIn its first-quarter earnings, Avidās annual recurring revenue grew 8.1% to $228 million, while its active paid software subscriptions grew 22% year-on-year. The company missed analystsā expectations, however, and its shares have dropped, down almost 20% year-to-date.ā
(I read: actual sales are in free-fall.)
āAvid Chief Executive Jeffrey Rosica told analysts on the companyās earnings call that supply chain issues created āsubstantial and unexpected gross margin headwinds for audio hardware,ā which eroded profitability.ā
(I read: canāt make stuff cheaply in China any more.)
Iām also guessing some āinvestorsā are dumping shares in anything related to the creative audio-visual industries and throwing money into one or other AI bubble.
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Sounds likely.
At least Elon didnāt buy themā¦
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Yeah so glad that didnāt happen. Nothing would be worse than NI having a favorite DAW they want to push on you.
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Yes!! x 1000!!