Damn. "According to Monday's filing, Avid has agreed to sell both its consumer audio and video-editing lines to two separate buyers, inMusic of Cumberland, R.I., and Corel Corp. of Ottawa, Canada. Products included in the deals are Avid's music production line of digital keyboards, speaker systems and DJ equipment, among other audio-related technologies, as well as its Avid Studio, Pinnacle Studio and Avid Studio video-editing application made specifically for the i-Pad.
Avid said its consumer businesses accounted for $91 million, or 13 percent, of its $677 million in 2011 revenue. The company expects to incur a $19 million-to-$23 million restructuring charge related to the sales."
Selling it's iPad product? I hope to hell they hang in there. I do not want to switch to Adobe Premiere.
— paul
--- In Avid-L2@yahoogroups.com, "Terence Curren" <tcurren@...> wrote:
>
> I'd bet that Avid is still making money in the shared storage area. They are moving a lot of Isis systems in LA. It's almost like they are becoming a server company…. D'oh!
>
> --- In Avid-L2@yahoogroups.com, "haus" <switthaus@> wrote:
> >
> >
> > One could see this coming for a long time. My feeling is that this is just one in a series of big changes coming for Avid in the next several months...something has got to give.
> >
> > sw
> > --- In Avid-L2@yahoogroups.com, "Dave Spraker" <avid@> wrote:
> > >
> > > Oooops...
> > >
> > >
> > >
> > > Sorry about that. New mail client.
> > >
> > >
> > >
> > > - Dave
> > >
> > >
> > >
> > > _____
> > >
> > > From: Avid-L2@yahoogroups.com [mailto:Avid-L2@yahoogroups.com] On Behalf Of
> > > Jim Feeley
> > > Sent: Monday, July 02, 2012 1:34 PM
> > > To: Avid-L2@yahoogroups.com
> > > Subject: Re: [Avid-L2] Staff cuts and selling the Consumer side
> > >
> > >
> > >
> > >
> > >
> > > Revenue vs profits? Considering all the hardware M-Audio moves, I'll guess
> > > the margins are thinner than with software.
> > >
> > > Jim Feeley
> > > PS- Dave, can you change your email settings so your posts don't show up
> > > with "Avid" in the "from" line? Or am I the only one seeing Dave's posts
> > > that way?
> > >
> > > On Jul 2, 2012, at 1:28 PM, [Not Avid] wrote:
> > >
> > > > I don't read those things all the time but something seems weird to me.
> > > > The consumer division brought in $91 million worth of revenue last year
> > > and
> > > > they are selling it for $21 million - which is the charge they will take
> > > > for selling it? Gotta be another sale coming...
> > > >
> > > > - Dave
> > > >
> > > > On Mon, Jul 2, 2012 at 12:08 PM, KBod <KMBodner@
> > > <mailto:KMBodner%40yahoo.com> > wrote:
> > > >
> > > >> **
> > > >>
> > > >>
> > > >> Just saw this:
> > > >>
> > > >>
> > > http://www.nasdaq.com/article/avid-technology-to-sell-consumer-businesses-cu
> > > t-jobs-coo-to-step-down-20120702-00689
> > >
> > >
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
> > >
> >
>
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