2023-08-09 17:04:18 ET
- Avid ( NASDAQ: AVID ) on Wednesday said it has entered into a agreement to be acquired by an affiliate of STG in an all-cash transaction valuing it at about $1.4 billion, inclusive of Avid’s net debt.
- Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid's common stock.
- The cash purchase price represents a premium of 32.1% over the company’s closing share price on May 23, the last trading day prior to media speculation regarding a potential sale.
- AVID +0.9% after hours to $26.79.
- Source: Press Release
For further details see:
Avid Technology to be acquired by affiliate of STG for $1.4B