Avid Buys Orad Hi-Tech Systems For $60Mn

    News

    Share

    Content Creation Focus
    US-based Avid has announced that it is buying Israeli company Orad
    Hi-Tec Systems Ltd in an all-cash transaction for about $60 million. Orad provides 3D real-time graphics, video servers and related asset management solutions.
    According to Avid, the combined company will further its position as the most comprehensive provider of content creation to distribution workflows for broadcast and media customers around the world.
    “Our industry is in a period of transition, in which our customers are demanding a single platform to connect creation with collaboration, asset distribution and monetisation. We believe this transaction further differentiates Avid as the partner with the most comprehensive solution,” said Avid, president and CEO Loui Hernandez.
    “Avid has a long-standing heritage of industry leadership, and it’s clear that both Avid and Orad havea common commitment to innovation and customer success,” said Avi Shahir, president and CEO,Orad Hi-Tech Systems.

    Most Popular

    Editor's Choice

    An EXCLUSIVE Interview Anant Roongta, MD, Famous Studios by our editor Anisha  Gakhar

    An EXCLUSIVE Interview Anant Roongta, MD, Famous Studios by our editor Anisha Gakhar

    Anant Roongta, MD, Famous Studios, is young at heart and focussed at breathing new life into the legacy of Famous Studios
    It is out of the ordinary, when a legacy-family-born child, makes it big (read: bigger)—yet with the same...

    Don't Miss a Story