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Avid Completes Acquisition of M-Audio (26/8/2004)
Avid Technology, Inc. (NASDAQ: AVID) today announced that it has completed the previously announced acquisition of Irwindale, CA-based M-Audio - a leading provider of digital audio and MIDI solutions for electronic musicians and audio professionals. M-Audio is now a business unit of Avid's Digidesign audio division, and will market its line of computer audio products alongside Digidesign's award-winning digital audio workstations for the professional and home/hobbyist markets.
"There are significant benefits that result from this acquisition - not just for Avid, but for virtually any user who is serious about making high-quality music or audio," said David Krall, Avid's president and chief executive officer. "Both Digidesign and M-Audio have visionary leaders who have proven track records for pioneering computer-based audio solutions. In the months ahead, we will tap their respective areas of expertise to develop a versatile and comprehensive set of creative home studio tools to pursue what the National Association of Music Merchants estimates to be a $500 million annual opportunity in the computer music and home recording market."
M-Audio's award-winning line of products - which includes computer audio peripherals, PCI sound cards, keyboard controllers and control surfaces, microphones, microphone preamps, speakers, and distributed software and proprietary sound libraries - complements Digidesign's family of professional and home audio solutions. As a business unit of Digidesign, M-Audio employs approximately 200 people with domestic operations in California and Wisconsin, and international operations in Canada, England, Germany, France, and Japan. M-Audio's founder and CEO, Tim Ryan, has joined Digidesign as general manager of M-Audio, reporting to Dave Lebolt, Digidesign general manager and Avid vice president.
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