Avid Technology announced the completion of its acquisition by an affiliate of STG in an all-cash transaction valued at approximately $1.4 billion. The acquisition was previously announced on August 9, 2023, and approved by Avid stockholders on November 2, 2023. Under the terms of the merger agreement, Avid stockholders will receive $27.05 per share. As a result of the completion of this transaction, Avid common stock will cease trading prior to the opening of trading on November 7, 2023, and will no longer be listed on the Nasdaq Stock Market. Avid will operate as a privately-held company and remain headquartered in Burlington, Massachusetts.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AVID:
- STG Completes Acquisition of Avid Technology
- Is AVID a Buy, Before Earnings?
- Brazil’s Record TV Upgrades Studios with Avid Audio Solutions to Power Top TV Broadcasts
- Avid Joins Roybal School of Film and Television Production Magnet
- Avid Technology announces Pro Tools Sketch tool
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue