Avid Technology Inc, the Tewksbury, Massachusetts company that has built itself up into the leader in digital automation and video storage systems for broadcasters, and snaps up anything in the field that comes onto the market, has filed with the US Securities & Exchange Commission to offer 2m shares, all new, but doesn’t say what it wants the indicated $75m or so net proceeds. The underwriting group will be led by Morgan Stanley & Co Inc, Prudential Securities Inc and Volpe Welty & Co.
Computational Systems Inc, Knoxville, Tennessee designer of predictive maintenance products got its initial public offering of 1.75m shares away at $12.50 a share compared with a $10 to $12 target. Underwriter for the issue was J C Bradford & Co.
Smith Micro Software Inc has filed to offer 3.4m shares, 1.7m of them new, at a target price of $10 to $12. The developer of facsimile software that it sells to modem manufacturers, has sold over 7.5m copies of its OEM software products since the beginning of 1994, and wants the $1.7m or so net proceeds for working capital. Half the company’s business is now with US Robotics Inc. Lead underwriter for the issue will be Hambrecht & Quist LLC.
