Avid Technology

Last updated
Avid Technology, Inc.
Company type Private
Industry Computer software, Technology, Multimedia
FoundedAugust 1987;37 years ago (1987-08)
FounderBill Warner
Headquarters Burlington, Massachusetts, United States
Key people
Wellford Dillard (CEO)
Products Pro Tools, Media Composer, Sibelius, Avid Play Avid VENUE, Avid NEXIS, MediaCentral, FastServe, MBOX Studio, Pro Tools Carbon, Pro Tools MTRX, Airspeed, Avid Maestro Graphics.
RevenueIncrease2.svg US$417 million (2022)
Increase2.svg US$53.9 million (2022)
Increase2.svg US$55.2 million (2022)
Total assets Increase2.svg US$287 million (2022)
Owner Symphony Technology Group
Website www.avid.com
Footnotes /references
[1]

Avid Technology, Inc. is a global technology company headquartered in Burlington, Massachusetts, and was founded in August 1987 by Bill Warner. [2] [3] It develops high-end software, SaaS, and hardware products and solutions used in media and entertainment.

Contents

Avid products and workflow solutions are used extensively in Hollywood and the film industry; in the broadcast television and streaming media industry; and the music industry. It is known for its video editing software, audio editing software, music notation software and media management and distribution services.

History

Avid was founded by Bill Warner, a former marketing manager from Apollo Computer. A prototype of their first non-linear editing system, the Avid/1 Media Composer, was shown at the National Association of Broadcasters (NAB) convention in April 1988. The Avid/1 was based on an Apple Macintosh II computer, with special hardware and software of Avid's design installed. The Avid/1 was "the biggest shake-up in editing since Melies played with time and sequences in the early 1900s". [4] By the early 1990s, Avid products began to replace such tools as the Moviola, Steenbeck, and KEM flatbed editors, allowing editors to handle their film creations with greater ease. The first feature film edited using the Avid was Let's Kill All the Lawyers in 1992, directed by Ron Senkowski. The film was edited at a 30fps NTSC rate, then used Avid MediaMatch to generate a negative cutlist from the EDL. [5] [6] The first feature film edited natively at 24fps with what was to become the Avid Film Composer was Emerson Park. The first studio film to be edited at 24fps was Lost in Yonkers , directed by Martha Coolidge. By 1994 only three feature films used the new digital editing system. By 1995 dozens had switched to Avid, and it signaled the beginning of the end of cutting celluloid. In 1996 Walter Murch accepted the Academy Award for editing The English Patient (which also won best picture), which he cut on the Avid. This was the first Editing Oscar awarded to a digitally edited film (although the final print was still created with traditional negative cutting). [7]

Avid logo, 1999-2008 Avid logo.svg
Avid logo, 1999-2008

In 1994 Avid introduced Open Media Framework (OMF) as an open standard file format for sharing media and related metadata.

In the past, Avid released Avid Free DV, a free edition of Media Composer with limited functionality; Xpress DV, a consumer edition of Media Composer; and Xpress Pro, a prosumer edition of Media Composer. These editions were discontinued in 2008 as the flagship Media Composer was lowered in price.

On March 29, 1999, Avid Technology, Inc. adjusted the amount originally allocated to IPR&D and restated its third-quarter 1998 consolidated financial statements accordingly, considering the SEC's views. [8]

In February 2018, Avid appointed Jeff Rosica as CEO, after terminating Louis Hernandez Jr, who was accused of workplace misconduct. [9]

In November 2023, Avid Technology was acquired by an affiliate of STG for $1.4 billion. [10]

Awards

In 1993, the National Academy of Television Arts & Sciences awarded Avid Technology and all of the company's initial employees with a technical Emmy award for Outstanding Engineering Development for the Avid Media Composer video editing system. [11] [12]

On March 21, 1999, at the 71st Academy Awards, Avid Technology Inc. was awarded an Oscar for the concept, system design and engineering of the Avid Film Composer for motion picture editing which was accepted by founder Bill Warner. [13]

Acquisitions

AcquiredCompanyDetailsSold
1993 EditDroid A computerized analog non-linear editing (NLE) system which was developed by Lucasfilm spin-off company. [14]
DiVA Corporationdeveloper of Videoshop, Quicktime-based home video editing software
1994 Digidesign developer of Pro Tools, digital audio workstation, and Venue, brand of digital mixing consoles
BasysITN's newsroom computer and automation system (from Digital Equipment Corporation), then implemented into iNews in 2001
NewsviewNovell-based newsroom computer system[ clarification needed ]
1995Elastic Reality, Inc.developer of Elastic Reality, morphing software
Parallax Softwaredeveloper of Matador, Illusion and Jester, ink-and-paint software
1998 Softimage developer of Softimage|3D, 3D graphics software (previously subsidiary of Microsoft)2008 (to Autodesk)
NewStarstrategic alliance Avstar with Grass Valley—then owners of Lightworks [ clarification needed ]
2000Motion Factorydeveloper of interactive 3D software for games and the Web [15]
Pluto Technology DDR playback servers
2002iKnowledgedeveloper of Active Content Manager, newsroom management software
2003Rocket Networksprivate sharing network technology for Internet collaboration, then implemented in Digidelivery, encrypted file transfer system [16] 2007 (to Aspera)
2004NXN Media Asset Management software components
Bomb Factory audio plug-ins developer
M-Audio audio interfaces and equipment manufacturer2012 (to inMusic)
2005 Pinnacle Systems digital video hardware and software manufacturer2012 (to Corel)
Wizoovirtual instrument, plug-in effect and sample library designer; [17] developed AIR (Advanced Instrument Research), series of plug-ins and virtual instruments subsequently included in Pro Tools 2012 (to inMusic)
2006Medéa Corporationhigh-speed RAID storage manufacturer
Sundance Digitalbroadcast automation software
Sibelius Software developer of Sibelius, notation software
Maximum Throughput [18] developer of MAXedit, visual effects editing software [19]
2010Blue Order Solutions AG [20] Media asset management software
Euphonix [21] digital mixing console and control surface manufacturer; EuCon protocols were integrated into Pro Tools; the Artist Series and System 5 Family were added to Avid control surfaces
2012Rocket Networkprovides online music recording studios [22]
2015Orad Systemsdeveloper of 3D real-time graphics and video servers products, then integrated into the MediaCentral Platform [23]

See also

Related Research Articles

<span class="mw-page-title-main">Non-linear editing</span> Non-destructive audio, video, or image editing

Non-linear editing is a form of offline editing for audio, video, and image editing. In offline editing, the original content is not modified in the course of editing. In non-linear editing, edits are specified and modified by specialized software. A pointer-based playlist, effectively an edit decision list (EDL), for video and audio, or a directed acyclic graph for still images, is used to keep track of edits. Each time the edited audio, video, or image is rendered, played back, or accessed, it is reconstructed from the original source and the specified editing steps. Although this process is more computationally intensive than directly modifying the original content, changing the edits themselves can be almost instantaneous, and it prevents further generation loss as the audio, video, or image is edited.

<span class="mw-page-title-main">Alias Systems Corporation</span>

Alias Systems Corporation, headquartered in Toronto, Ontario, Canada, was a software company that produced high-end 3D graphics software. Alias was eventually bought by Autodesk.

<span class="mw-page-title-main">Quark (company)</span> American software company

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Video editing is the post-production and arrangement of video shots. To showcase perfect video editing to the public, video editors must be reasonable and ensure they have a superior understanding of film, television, and other sorts of videography. Video editing structures and presents all video information, including films and television shows, video advertisements and video essays. Video editing has been dramatically democratized in recent years by editing software available for personal computers. Editing video can be difficult and tedious, so several technologies have been produced to aid people in this task. Overall, video editing has a wide variety of styles and applications.

<span class="mw-page-title-main">Final Cut Pro</span> Video editing software by Apple

Final Cut Pro is a professional non-linear video-editing application initially developed by Macromedia, and, since 1998, by Apple as part of its pro apps collection. Final Cut Pro allows users to import, edit, and process video footage, and output it to a wide variety of formats.

Quantum Corporation is a data storage, management, and protection company that provides technology to store, manage, archive, and protect video and unstructured data throughout the data life cycle. Their products are used by enterprises, media and entertainment companies, government agencies, big data companies, and life science organizations. Quantum is headquartered in San Jose, California and has offices around the world, supporting customers globally in addition to working with a network of distributors, VARs, DMRs, OEMs and other suppliers.

Avid Audio is an American digital audio technology company. It was founded in 1984 by Peter Gotcher and Evan Brooks. The company began as a project to raise money for the founders' band, selling EPROM chips for drum machines. It is a subsidiary of Avid Technology, and during 2010 the Digidesign brand was phased out. Avid Audio products will continue to be produced and will now carry the Avid brand name.

Autodesk Media and Entertainment is a division of Autodesk which offers animation and visual effects products, and was formed by the combination of multiple acquisitions. In 2018, the company began operating as a single operating segment and reporting unit.

<span class="mw-page-title-main">Avid Free DV</span>

Avid Free DV is a non-linear editing video editing software application which was made by Avid Technology. Avid discontinued this product, stating: "Effective September 1, 2007, Avid is discontinuing the Avid Free DV application offer, and has no immediate plans to make an updated version available."

<span class="mw-page-title-main">Xpress Pro</span> Non-linear video editing software

Avid Xpress Pro was a non-linear video editing software aimed at professionals in the TV and movie industry. It was available for Microsoft Windows PCs and Apple Macintosh computers.

<span class="mw-page-title-main">Media Composer</span> Film and video editing software

Media Composer is a non-linear editing (NLE) software application developed by Avid Technology. First introduced in the late 1980s and widely adopted in the 1990s, it has become a prominent tool in the professional editing landscape, particularly in the film, television, and broadcast industries. Media Composer is used in a variety of production environments, including feature films, television shows, documentaries, and streaming service content.

<span class="mw-page-title-main">Sonic Solutions</span> American software company

Sonic Solutions was an American computer software company headquartered in Novato, California. In addition to having a number of offices in the U.S., the company also maintained offices in Europe and Asia. It was acquired by Rovi Corporation in 2010.

<span class="mw-page-title-main">Avid Elastic Reality</span>

Elastic Reality was a warping and morphing software application available on Windows, Macintosh, and Silicon Graphics workstations and was discontinued in 1999.

The EditDroid is a computerized analog non-linear editing (NLE) system which was developed by Lucasfilm spin-off company, the Droid Works and Convergence Corporation who formed a joint venture company. The company existed up through the mid-'80s to the early '90s in an attempt to move from analog editing methods to digital. EditDroid debuted at the National Association of Broadcasters (NAB) 62nd Annual meeting in Las Vegas in 1984 concurrent with another editing tool that would compete with the EditDroid for all its years in production, the Montage Picture Processor.

Avid Symphony is non-linear editing software aimed at professionals in the film and television industry. It is available for Microsoft Windows PCs and Apple Macintosh platforms.

Automatic Duck is a software developer based near Seattle known for their plug-ins that translate edited sequences between Final Cut Pro, Avid, After Effects, Quantel, Pro Tools and other professional digital video editing tools.

Ingex is an open-source (GPL) suite of software for the digital capture of audio and video data, without the need for traditional audio or video tape or cassettes. Serial digital interface (SDI) capture is supported, as well as real-time transcoding. Portions of the software suite also act as a network file server for media files, as well as archiving to LTO-3 data tape. Audio and video media files can also be stored on USB hard drives or Network Attached Storage. The software is heavily used by the BBC, and was developed by the BBC Research Laboratory.

Boris FX is a visual effects and video editing software plug-in developer based in Boston, Massachusetts, USA. The developer is known for its flagship products, Continuum, Sapphire, Mocha, and Silhouette.

GenArts, Inc. was a Cambridge, Massachusetts-based developer of visual effects software for the film, broadcast, and advertising industries. GenArts's special effects software was used in the production of many movies, commercials, television shows, newscasts, and music videos. GenArts software and plugins integrated visual effects such as glows, lightning, fire, and fluids into post-production video editing software from companies like Apple, Adobe, Autodesk, and The Foundry.

<span class="mw-page-title-main">Symphony Technology Group</span> American private equity firm

STG Partners, LLC, doing business as Symphony Technology Group (STG), is an American private equity firm based in Menlo Park, California. Its Managing Partner and Chief Investment Officer is William Chisholm who co-founded the firm with Bryan Taylor and Dr. Romesh Wadhwani in 2002.

References

  1. ↑ "Avid Technology, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. March 1, 2023.
  2. ↑ "About Avid". Avid Technology. Archived from the original on 16 January 2009. Retrieved 2009-01-16.
  3. ↑ "Avid Corporate Background". Avid Technology. Archived from the original on 30 December 2008. Retrieved 2009-01-16.
  4. ↑ Russell Evans, Practical DV Filmmaking, Focal Press, 2005 ISBN   0-240-80738-3, ISBN   978-0-240-80738-6 page 13
  5. ↑ "Ron Senkowski". IMDb .
  6. ↑ Kennedy, Ashley (10 December 2011). "Fun Facts and Dates in Digital Editing 'Firsts'" . Retrieved 27 April 2017.
  7. ↑ Scott Kirsner, Inventing the Movies: Hollywood's Epic Battle Between Innovation and the Status Quo, from Thomas Edison to Steve Jobs (2008) Publisher Scott Kirsner, ISBN   1-4382-0999-1, ISBN   978-1-4382-0999-9 page 84-85
  8. ↑ "Avid Technology Announces Revaluation of Acquisition Charges".
  9. ↑ "Avid Technology Announces Appointment of Jeff Rosica as Chief Executive Officer and Termination of Louis Hernandez, Jr". Avid. 26 February 2018. Retrieved 19 October 2019.
  10. ↑ Giardina, Carolyn (November 7, 2023). "Private Equity Firm STG Completes Acquisition of Avid for $1.4B". The Hollywood Reporter.
  11. ↑ Steve Hall Charged With Ensuring Reliable, Consistent IT Service Archived 2013-01-31 at the Wayback Machine
  12. ↑ Curiosity Expert: William J. Warner
  13. ↑ "Oscars Awards Database". Archived from the original on 2014-05-25. Retrieved 2014-05-25.
  14. ↑ "Lucasfilm: Inside Lucasfilm | Company History". 2012-06-28. Archived from the original on 2012-06-28. Retrieved 2022-06-23.
  15. ↑ "Avid Acquires 3D Software Company Motion Factory". Animation World Network. Retrieved 2019-12-17.
  16. ↑ "Digidelivery – The demise of a great product". Ceri Thomas. 24 February 2010. Retrieved 2019-12-17.
  17. ↑ "Digidesign buy Wizoo". www.soundonsound.com. Retrieved 2019-12-17.
  18. ↑ "Avid Acquires Maximum Throughput | Mergr M&A Deal Summary". mergr.com. Retrieved 2024-10-31.
  19. ↑ September 23, Alex Udell; Pm, 2009 at 6:06 (2009-09-08). "More transitions – Avid acquired Max-T". fxguide. Retrieved 2019-12-17.{{cite web}}: CS1 maint: numeric names: authors list (link)
  20. ↑ Kerschbaumer, Ken (2010-03-12). "Avid Acquires Blue Order, Ties Media Asset Management to Production Workflows". Sports Video Group. Retrieved 2024-10-31.
  21. ↑ TVTechnology (2010-04-22). "Avid Acquires Euphonix". TVTechnology. Retrieved 2024-10-31.
  22. ↑ "Avid Acquires Rocket Network's Assets". Mixonline. 2003-04-10. Retrieved 2020-05-14.
  23. ↑ "Avid Completes Acquisition of Orad Hi-Tec Systems". www.avid.com. Retrieved 2019-12-17.
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