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March 25, 1997updated 05 Sep 2016 1:09pm

INTEL AND AVID FORM ALLIANCE

By CBR Staff Writer

Intel Corp and Avid Technology Inc have formed a strategic alliance in which Avid will develop video and audio editing products for the Intel architecture platform. The deal, announced Monday, involves an Intel investment of $14.75m for roughly 1.5 million newly-issued Avid shares, giving Intel a 6.75% stake in Avid. Avid already supports the Intel platform with several of its products. Under the terms of the agreement, Avid and Intel will collaborate to bring additional digital content creation products to the Intel architecture. The alliance is non-exclusive, as Avid will continue to provide content creation products for various computing platforms.

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