The all-cash transaction, valued at approximately $1.4 billion, including debt, is expected to finalize in Q4 2023. Avid stockholders will receive $27.05 per share, a premium of 32.1% over the May 23, 2023 closing price. Avid will transition into private ownership after the deal concludes, with its common stock no longer trading on Nasdaq.
SHARED VISION FOR INNOVATION: AVID’S ACQUISITION BY STG
This story is from the September 2023 edition of Digital Studio.
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This story is from the September 2023 edition of Digital Studio.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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