This IS the Avid L2: Re: [Avid-L2] Staff cuts and selling the Consumer side

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]
>>
>
>
>
>
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