Many of us talked about the corporate arrogance of Avid back in those days. Now that arrogance has come back to bite them in the ass. I think this is just the start....
--- In Avid-L2@yahoogroups.com, "Knut A. Helgeland" <knut@...> wrote:
>
> 2004: "Avid Technology announced the acquisition of M-Audio... Avid is paying US$80 million in cash, 2 million shares stock (valued at approximately $83 million), the assumption of some 350,000 options at M-Audio, and between $20 million and $25 million in earnouts based on financial milestones."
>
> 2005: "Under the terms of the agreement, Pinnacle shareholders will receive .0869 shares of Avid stock and $1.00 in cash for each Pinnacle share. At closing, it is expected that Avid will issue approximately 6.2 million shares and pay $71.3 million in cash, for a total estimated value of $462 million based on Avid's stock price of $62.95 at market close on Friday, March 18, 2005."
>
> Any more sandbags left to drop from this balloon?
>
> Four years ago they sold off Softimage for $35 million, having acquired it for $285 million back in 1998 - now this is more of the same just even worse. From $650 million to around $21 million in seven years? This is loss on a massive scale.
>
> It's very sad seeing such a brilliant company with so many great ideas and concepts being slowly pulled apart by a disillusioned management and incompetent marketing.
>
> Good luck to everyone having to leave this time - and good luck to those staying too.
>
> K
>
> On 3. juli 2012, at 23:57, Terence Curren wrote:
>
> > I've heard the layoffs were huge. Tim Claman, the CTO is out. What is a tech company without a CTO?
> >
> > --- In Avid-L2@yahoogroups.com, RT <huipro@> wrote:
> >>
> >> Someone on the list said this company needed to be "shaken - not
> >> stirred". I agree 100%. ;-)
> >>
> >> But I heard great things about the iPad editor.
> >>
> >>
> >> paul.hartel wrote:
> >>
> >>>
> >>>
> >>> 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 <mailto:Avid-L2%40yahoogroups.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 <mailto:Avid-L2%40yahoogroups.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 <mailto:Avid-L2%40yahoogroups.com>,
> >>> "Dave Spraker" <avid@> wrote:
> >>>>>>
> >>>>>> Oooops...
> >>>>>>
> >>>>>>
> >>>>>>
> >>>>>> Sorry about that. New mail client.
> >>>>>>
> >>>>>>
> >>>>>>
> >>>>>> - Dave
> >>>>>>
> >>>>>>
> >>>>>>
> >>>>>> _____
> >>>>>>
> >>>>>> From: Avid-L2@yahoogroups.com <mailto:Avid-L2%40yahoogroups.com>
> >>> [mailto:Avid-L2@yahoogroups.com <mailto:Avid-L2%40yahoogroups.com>] On
> >>> Behalf Of
> >>>>>> Jim Feeley
> >>>>>> Sent: Monday, July 02, 2012 1:34 PM
> >>>>>> To: Avid-L2@yahoogroups.com <mailto:Avid-L2%40yahoogroups.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]
> >>>>>>
> >>>>>
> >>>>
> >>>
> >>>
> >>
> >>
> >>
> >> [Non-text portions of this message have been removed]
> >>
> >
> >
> >
> >
> > ------------------------------------
> >
> > Search the official Complete Avid-L archives at: http://archives.bengrosser.com/avid/
> > Yahoo! Groups Links
> >
> >
> >
>
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