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NAB 2015: Avid snaps up Orad for £48m

NAB 2015: Avid snaps up Orad for £48m
Staff Reporter
15 April 2015

Avid is to acquire graphics, server and MAM firm Orad.

The Israeli company will add more weight in content creation and media management to Avid's MediaCentral platform.

Avid will pay €5.67 per share, valuing the company at approximately £48m.

Avid ceo Louis Hernandez Jr said: “Our industry is in a period of significant transition, in which our customers are demanding a single platform to connect creation with collaboration, asset protection, distribution and monetisation.

“We believe this transaction further differentiates Avid as the partner with the most comprehensive solution, and accelerates our momentum as we enable our customers to operate more efficiently and profitably.”

Orad provides real-time 3D broadcast graphics, video server and media asset management systems for news, channel branding, sports production and enhancement, elections and special events, virtual studios and virtual advertising.

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