Avid and Wolftech to Empower Digital-First, Story-Driven Newsroom Collaboration

Broadcast technology leaders join forces to enable news production teams to accelerate storytelling - from pitch to publish

BURLINGTON, Mass., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Avid , the global leader in software solutions for professional media production, has today entered into a definitive agreement to acquire Wolftech Broadcast Solutions, the industry leader in cloud-based multiplatform planning and publishing news production solutions. This strategic move illustrates Avids focus on transforming news, sports, and live production workflows.

The acquisition will allow Avid to combine its digital-first, end-to-end media solution with Wolftechs expertise in story-centric workflow management. The integration of Wolftech and Avid is intended to enable news organizations to rapidly deliver stories through multiplatform amplification, significantly increasing efficiency and improving remote collaboration.

Avid and Wolftech are committed to openness and customer choice. Wolftech already integrates with a wide range of tools, including Avid MediaCentral, and will continue to build integrations with Avid solutions and other industry-leading platforms. With this acquisition, Avid will deepen the integration between the two toolsets while continuing to partner with a wide range of media production tools and newsroom systems. Existing Wolftech customers will benefit from Avids global scale for customer support and professional services.

The planned acquisition of Wolftech positions Avid to deliver a unified suite of integrated tools with unique AI-powered features that will enable news production organizations to:

Break Down Silos: Unlock creativity and operational clarity by breaking down silos between digital, broadcast and long-form teams.

Increase Efficiency: Get the most out of resources with sophisticated planning and analytics tools.

Focus on the Story: Capture audiences and amplify stories faster across any distribution platform.

Get Teams Interacting: Centralize communication and optimize team collaboration, from newsroom to remote and field, with web and mobile tools.

Move as Technology Moves: Leverage an integration engine, open API and AI framework to easily build and evolve innovative and modular workflows, from lens to edit and beyond, for the ultimate connected newsroom.

Wellford Dillard, CEO of Avid Technology, commented on the acquisition, stating: We are thrilled to welcome Wolftech to the Avid family. This acquisition strengthens Avids position in the news market and underscores our commitment to deliver best-in-class solutions that empower news organizations to thrive in todays fast-paced digital landscape. Together, Avid and Wolftech will change the game for news production teams, delivering innovative tools and workflows that enable compelling, yet efficient, storytelling.

Arne Berven, CEO of Wolftech, expressed enthusiasm about the acquisition and its potential to drive innovation in news production workflows: Joining forces with Avid represents an exciting opportunity for Wolftech to accelerate our mission of revolutionizing news production. By integrating Wolftechs multiplatform planning, collaboration, and publishing capabilities with Avids industry-leading solutions, we will empower news organizations to adapt to evolving audience demands and deliver high-quality content across digital platforms more efficiently than ever before.

Discover the future of the next generation rundown, bringing together Avid's unparalleled expertise in live production with Wolftechs unique story-centric approach. To learn more, visit www.avid.com/avid-x-wolftech or www.wolftech.no.

About Avid Technology

Avid Powers Greater Creators

People who create media for a living become greater creators with Avid's award-winning technology solutions to make, manage and monetize today's most celebrated video and audio content - from iconic movies and binge-worthy TV series, to network news and sports, to recorded music and the live stage. What began more than 30 years ago with our invention of nonlinear digital video editing has led to individual artists, creative teams and organizations everywhere subscribing to our powerful tools and collaborating securely in the cloud. We continue to re-imagine the many ways editors, musicians, producers, journalists, and other content creators will bring their stories to life. Discover the possibilities at avid.com and join the conversation on social media with the multitude of brilliant creative people who choose Avid for a lifetime of success.

About Wolftech

Wolftech provides story-centric workflow management solutions to the largest broadcasters in the world, enhancing collaboration and efficiency in newsgathering & story creation. Our collaborative planning modules focus on streamlining news, sports & entertainment productions. We ensure greater transparency & overview of stories across departments, teams & locations, whilst integrating seamlessly into existing workflows. Leveraging its incorporated booking module empowers clarity over resource availability & costs. Ultimately, Wolftech provides administrative control & creative freedom. For further information or images, visit the Wolftech website at www.wolftech.no.

2024 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, and MediaCentral are trademarks or registered trademarks of Avid Technology, Inc., or its subsidiaries in the United States and/or other countries. Other trademarks are property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

PR Contact:

Neil Beston

Global Communications

Avid

neil.beston@avid.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/b532db13-f5f0-4f2e-ac8a-4

LINK:	https://newsroom.notified.com/avid-technology-inc/posts/pressreleases/...
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