Avid Technology Acquires Assets of iKnowledge, Inc.Business/Technology Editors TEWKSBURY, Mass.--(BUSINESS WIRE)--Oct. 29, 2002 Avid will immediately begin selling new solution that lets customers manage digital assets for fast and easy distribution to the Web and other channels Avid Technology "Avid" redirects here. For the "Advancement Via Individual Determination" educational program, see AVID. Avid Technology, Inc NASDAQ: AVID is an American company specializing in video and audio production technology; specifically, digital non-linear media editing (NLE) , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AVID) today announced it has acquired substantially all the assets of privately held software company iKnowledge, Inc., a Lexington, Massachusetts-based developer of enterprise content aggregation, distribution and syndication solutions. Avid will immediately begin selling a new digital asset management and distribution offering based on the technology acquired from iKnowledge. Terms of the deal were not disclosed. "iKnowledge's solution stands out in enterprise content management because, unlike offerings from more traditional vendors, it was designed for rich media assets, especially delivery over the Web," said David Krall, Avid's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our customers, who are the world's leading producers of rich media, can take advantage of this new solution immediately, especially the many broadcasters currently using Avid Unity(TM) for News. And, because it integrates seamlessly into our end-to-end digital workflow In print publishing, using the computer to lay out text and illustrations prior to creating film negatives for every page or going directly to plate. Prior to digital workflow, the typesetting and pre-press stages were far more time consuming and labor-intensive. , our customers can benefit from the efficiency and revenue potential of creating media once and delivering it everywhere." The new addition to the Avid family is a complete rich-media asset management and distribution solution that helps aggregate any digital content, in its native format, from multiple sources. Customers can add business rules to manage the content - such as to which Web site to send the media and when to send it - and rapidly distribute it via any channel, from broadband to wireless, or, ultimately, to any device, including PCs, Wireless Application Protocol (WAP (1) (Wireless Access Point) See access point. (2) (Wireless Application Protocol) A standard for providing cellular phones, pagers and other handheld devices with secure access to e-mail and text-based Web pages. ) phones, PDAs, and iTV. The new enterprise solution will install easily within existing IT infrastructures - including those based on Avid Unity for News software - to deliver total content-management and distribution capabilities that integrate easily into a customer's unique production workflow. On the Net: Avid Technology site: http://www.avid.com About Avid Technology, Inc. Avid Technology, Inc. delivers the solutions that Make, Manage and Move Media(TM). As a recognized digital standard for professionals who Make the world's media--from video, audio and film to animation, special effects special effects, in motion pictures, cinematographic techniques that create illusions in the audience's minds as well as the illusions created using these techniques. and streaming media--Avid's products are used to make more television and news shows, commercials, music videos and CDs, corporate/industrial productions and major motion pictures combined than any other nonlinear editing See nonlinear video editing. manufacturer in the world. Building on its award-winning heritage, which includes several Emmy(R) awards as well as an Oscar(R) statuette representing the 1998 Scientific and Technical Award for the concept, design and engineering of the Avid Film Composer(R) system for motion picture editing, Avid is extending its reach by redefining how digital media is shared, stored and distributed. To Manage today's increasingly rich collection of dynamic media, Avid provides powerful servers, networks and media tools to help customers search files, share media and collaborate on new productions, both locally and globally. Avid's solutions also empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems users to easily Move media, whether on air, over cable or satellite or through the Internet. Like no other media company today, Avid's end-to-end solutions (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. span the continuum of media creation, management and distribution. The company's corporate headquarters are located in Tewksbury, MA. (c) 2002 Avid Technology, Inc. All rights reserved. Product specifications and availability are subject to change without notice. Avid, Film Composer, Avid Unity and Make, Manage and Move Media are either registered trademarks or trademarks of Avid Technology, Inc. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or other countries. Oscar is Oscar I, 1799–1859, king of Sweden and Norway (1844–59), son and successor of Charles XIV. His reign was one of social and economic advance. His book on the reform of criminal law and prisons had wide influence. Oscar was succeeded by his elder son, Charles XV. a trademark and service mark of the Academy of Motion Picture Arts and Sciences. Emmy is a registered trademark of ATAS/NATAS. All other trademarks contained herein are the property of their respective owners. |
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