Avid Technology to be acquired by STG for $1.4 billion

Avid Technology to be acquired by STG for $1.4 billion.

Avid stockholders will receive $27.05 per share in cash as part of the agreement.

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Avid has focused on serving the entertainment sector with technology and software for editing.

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STG is a mid-market private equity firm based in Palo Alto.

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