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Article: AVID TECHNOLOGY MERGES WITH PARALLAX AND ELASTIC REALITY.
- Article from:
- Business Wire
- Article date:
- March 29, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TEWKSBURY, Mass.--(BUSINESS WIRE)-- March 29, 1995--Avid Technology, Inc. (NASDAQ: AVID) announced today that it has acquired through mergers The Parallax Software Group of London, England, a leading developer of paint and compositing technology, and Elastic Reality, Inc. of Madison, Wis., a leading developer of special effects software, including morphing and film restoration tools. Under the terms of the respective merger agreements, Avid has issued in aggregate approximately 1.5 million shares of Avid Common Stock, valued today at approximately $45 million.
Curt Rawley, Avid's chief executive officer, commented, "We view these organizations as very important ...
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