here is the deal and who will be buying.
avid.com
Avid and Tektronix Forge Alliance to Provide Digital Technology
Solutions, Best-in-Class Products to Broadcasters for Fully Digital
Broadcast Facilities
—Companies Announce Distribution Agreement; Intent to Form a New Joint Venture
and Sign Technology Development Agreement—
TEWKSBURY, MA and BEAVERTON, OR, September 3, 1998 -Avid® Technology, Inc.
(NASDAQ: AVID) and Tektronix®, Inc. (NYSE:TEK) today announced a distribution
agreement as well as the intent to undertake strategic development which will align
Avid's Broadcast News Division and Tektronix's Video and Networking Division. The
companies also announced the intention to form a joint venture dedicated to meeting
the needs of newsroom computing.
This strategic alliance is intended to strengthen interoperability between two of the
industry's leading broadcast and post-production suppliers and provide unprecedented
support of open standards for customers. The Avid/Tektronix alliance will combine
Avid's best-in-class digital nonlinear editing technology with Tektronix's award-winning
playback server, storage, routing and networking products to create a
production-to-air digital broadcast solution, helping to accelerate the migration of
broadcasters to a digital production environment. As a result of this alliance,
customers will be able to buy best-in-class digital video servers; nonlinear editors;
newsroom computing systems; live production switchers; master control products and
television test products from providers offering integrated solutions.
"This alliance marks a significant step forward in a pivotal and rapidly changing
industry. At CNN, we have been leaders in adopting evolving digital capabilities to
news gathering and production processes. The kind of partnership represented by this
alliance between Tektronix and Avid is aimed at solving the design, implementation and
support problems we know to be central to digitization and automation of our main
business processes and the overall technical improvement of our news product," said
Scott Teissler, CNN senior vice president, new media strategy, and chief technology
officer. "CNN has been 'pushing the envelope' for some years in adopting digital
technologies to the news business. The sheer scale and global complexity of our
operations means we represent the most demanding environment there is for this
technology. Both Avid and Tektronix are important suppliers to CNN and we see in this
alliance the prospect of their addressing some important deficiencies in the products
and services for digital television and multimedia production."
this is not the whole story so check out the link if you want to read the rest of this release. |
