Avid Technology Inc. has purchased Sundance Digital Inc. in a cash deal worth about $12 million.
Avid, a leader in media production management technology for broadcast and post, said the acquisition broadens its broadcast workflow systems with automation capabilities. Based in Irving, Texas, Sundance Digital develops automation and media management technology for the broadcast industry. Its products include Titan, NewsLink, FastBreak NXT Automation, FastBreak NXT Xpress and the Seeker news asset management system.
"With Sundance systems in our portfolio, Avid will offer more open and streamlined broadcast production workflows across the entire spectrum of media acquisition, production, and transmission," said Chas Smith, vice president and general manager of Avid's Video division.
President of Sundance Digital Robert C. Johnson said its systems are "the perfect complement to Avid's news creation tools." Sundance automation systems already integrate with a range of Avid broadcast products, including MediaStream, Avid iNEWS, Deko, DekoCast, Thunder, and AirSpeed.
An Avid spokesman said that they don't anticipate any consolidation through facility closings or layoffs and that they expect to allow Sundance to "operate as it has in the past." In fact, Avid expects to grow the Sundance team in the years ahead, the spokesman said. Sundance President Robert Johnson will become the new Director of Broadcast Automation for the Avid Video division.
