By OohYeah Magazine

In a landmark move for the media and entertainment tech sector, Symphony Technology Group (STG) has officially acquired Avid Technology—the company behind industry-standard tools like Pro Tools and Media Composer—in a deal valued at $1.4 billion.

The acquisition, finalized in November 2023, marks a new chapter for Avid as it transitions from a publicly traded entity on the Nasdaq to a privately held company under STG’s ownership.

The Deal

The agreement saw STG purchase all outstanding shares of Avid at $27.05 per share, paying stockholders entirely in cash. This all-cash transaction delivers immediate value to Avid’s investors while positioning the company for a strategic transformation away from the quarterly demands of Wall Street.

Avid’s Legacy in Media & Entertainment

Avid has long been a dominant force in the professional creative space. From high-end film and TV editors using Media Composer to Grammy-winning music producers working in Pro Tools, the company’s products have shaped how stories are told and music is made for decades.

With solutions spanning audio, video, and broadcast, Avid’s tools are the backbone of countless productions—from blockbuster movies to chart-topping albums and global news broadcasts.

Why STG Made the Move

STG, a private equity firm with a track record of acquiring and scaling software companies, sees Avid as a prime candidate for accelerated growth. By taking the company private, STG gains the freedom to make long-term investments in innovation, user experience, and market expansion—without the short-term pressures of public market performance.

“Our investment in Avid reflects our belief in its brand strength, its market leadership, and the critical role it plays in the creative industry,” STG stated. “We look forward to supporting Avid’s next phase of innovation.”

What This Means for Creatives

For the millions of professionals and aspiring creators who rely on Avid’s software, the acquisition could bring both stability and change. STG’s focus on “building, scaling, and unlocking potential” may translate into faster product updates, deeper integrations, and expanded offerings across the creative pipeline.

However, industry watchers will also keep a close eye on how this shift impacts pricing models, subscription plans, and long-term customer relationships—especially as the broader creative tools market grows increasingly competitive.

Looking Ahead

As Avid embarks on this next chapter under STG’s ownership, one thing is certain: the company remains at the center of how modern media is created. Whether the deal fuels a renaissance of innovation or ushers in a wave of corporate restructuring will depend on how STG balances its growth strategy with the needs of the artists, engineers, and editors who made Avid a household name in creative industries.