AVID ANNOUNCED on 2 July that it is offloading its consumer audio (M-Audio and AIR Software Group) and video product lines, for $17 million (€13.5 million). InMusic Group, the parent of
Akai Professional, Alesis and Numark, is said to have paid around $15 million for the M-Audio line of keyboards, controllers, interfaces, speakers and digital DJ equipment, and the AIR virtual instrument/plug-in Software Group. In a separate deal, the media
tools developer has sold consumer video editing line (based on Pinnacle Systems technology) to Corel Corporation, a Canadian consumer software company. Shortly after it emerged that the UK office of score-writing software Sibelius was to close.
Gary Greenfield, Avid CEO Ian Bruce, Avid director of
communications, confirmed to PSNEurope: “Avid is closing its Finsbury Park [Sibelius] site. However, we’d like to stress that this should not in anyway [sic] be confused with a diminishment in our commitment to Sibelius.” Headcount at Avid will be
reduced by around 365, or 20%, following the moves. The proceeds from the sale should offset most of the
restructuring charges paid in 2012, says Avid. In a conference call, Avid also revealed it aims to save $80 million annually ($64 million by cutting staff, $16 million by “darkening facilities”). Avid bought Sibelius in 2006
for $23 million from Ben and Jonathan Finn, who first devised the scoring programming in 1993. Avid bought M-Audio for over $160 million in 2004, and Pinnacle for $462 million in 2005. In a press release, Gary
Greenfield, CEO of Avid (who has an ‘executive compensation’ package of $4.8 million), stated: “By streamlining and simplifying operations, we expect to deliver improved financial performance and partner more closely with our enterprise and professional customers.”n www.avid.com
PORTUGAL
REPLAY STUDIOS in Santa Maria De Feira, Portugal, has installed an SSL Matrix console as the last step of a three-year progressive upgrade. The studio opened in 2009 with Alpha VHD Pre and Duende plug-ins. The studio took its first steps into the analogue domain with an X-Rack, and is currently using a MadiXtreme and Alpha-Link I/O
system alongside the Matrix. “The Matrix’s open architecture means we can approach almost all production tasks from an angle best suited to meet the needs of our clients,” said studio co-owner Mário de Sá. “We love it. Life’s good and music is better!”