Avid Technology Acquires Assets of iKnowledge

Nov 14, 2002 12:00 PM

Avid Technology, Inc. (NASDAQ: AVID) announced it has acquired substantially all the assets of privately held software company iKnowledge, Inc., a Lexington, Mass.-based developer of enterprise content aggregation, distribution, and syndication solutions. Avid will immediately begin selling a new digital asset management and distribution offering based on the technology acquired from iKnowledge. Terms of the deal were not disclosed.

"iKnowledge's solution stands out in enterprise content management because, unlike offerings from more traditional vendors, it was designed for rich media assets, especially delivery over the Web," said David Krall, Avid's president and CEO. "Our customers, who are the world's leading producers of rich media, can take advantage of this new solution immediately, especially the many broadcasters currently using Avid Unity for News. And, because it integrates seamlessly into our end-to-end digital workflow, our customers can benefit from the efficiency and revenue potential of creating media once and delivering it everywhere."

The new addition to the Avid family is a complete rich-media asset management and distribution solution that helps aggregate any digital content, in its native format, from multiple sources. Customers can add business rules to manage the content--such as to which website to send the media and when to send it--and rapidly distribute it via any channel, from broadband to wireless, or, ultimately, to any device, including PCs, Wireless Application Protocol (WAP) phones, PDAs, and iTV. The new enterprise solution will install easily within existing IT infrastructures--including those based on Avid Unity for News software--to deliver total content-management and distribution capabilities that integrate easily into a customer's unique production workflow.

On the Net: Avid Technology site: www.avid.com