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Technology Stocks : Avid Technology

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To: John Veltheer who wrote (303)	7/13/1997 8:19:00 AM
From: Doug (Htfd,CT)	of 777

Will momentum flight drive AVID to the INTC $9.50 buy price? "TEWKSBURY, Mass. (March 24, 1997) - Avid Technology, Inc. (NASDAQ: AVID) and Intel Corporation (NASDAQ: INTC) today announced a strategic alliance to support Avid's plans to offer video and audio editing products on the Intel architecture. Under terms of the agreement, Avid will develop digital content creation products for the Intel architecture. Also under the terms of the agreement, Intel will purchase 1,552,632 newly issued shares of Avid common stock for a total investment of $14.75 million. The investment was made at $9.50 per share, the closing price on March 21, 1997, and gives Intel approximately 6.75 percent ownership position in Avid." Source: avid.com

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