Avid Sells Off its Consumer Audio, Video Brands

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AvidPro audio and video editing software company Avid announced on Monday that it is selling off its consumer-level products such as M-Audio to other companies. The move, the company said, will help it focus on pro-level customers and improve operating performance.

Avid’s consumer video editing titles will go to Corel, and the M-Audio brand will have a new home with inMusic. Corel said it is acquiring the Pinnacle Studio suite, Avid Studio, Avido Studio for iPad, and the Dazzle video hardware product line.

inMusic, which is the parent company of Akai Professional, is getting M-Audio’s keyboards, controllers, interfaces, speakers and more, but Avid will continue to develop and sell its own Pro Tools software and hardware such as the Mbox and Fast Track.

Avid said the deals with both companies will close today, and it expects to earn about $17 million in the process.

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