4 thoughts on “Pro Tools-maker Avid delisted from NASDAQ”
This was a long time coming. I knew when they basically fired all of their Sibelius engineers about a year ago that trouble was on its way. They did a Sibelius 8 update, but that was basically code that their old engineers created. Rumor has it that they didn’t have much done for the next update because they were basically not supporting it anymore.
The strange thing is, the original creators of Sibelius offered to buy it back from Avid, and Avid wouldn’t sell. A curious move by a company that is clearly in trouble.
Delisting from an exchange is almost irrelevant. Avid has $50 million in cash and access to another $60 million from banks should they need it. The company is going through a tough time only because they are public. Things look a lot worse than they really are.
Apple should buy them out. They have excellent technology that Apple could utilize in Logic and FCP. Why not?
This was a long time coming. I knew when they basically fired all of their Sibelius engineers about a year ago that trouble was on its way. They did a Sibelius 8 update, but that was basically code that their old engineers created. Rumor has it that they didn’t have much done for the next update because they were basically not supporting it anymore.
The strange thing is, the original creators of Sibelius offered to buy it back from Avid, and Avid wouldn’t sell. A curious move by a company that is clearly in trouble.
Delisting from an exchange is almost irrelevant. Avid has $50 million in cash and access to another $60 million from banks should they need it. The company is going through a tough time only because they are public. Things look a lot worse than they really are.
Apple should buy them out. They have excellent technology that Apple could utilize in Logic and FCP. Why not?
I’ve seen convincing opinions that this is actually about accounting problems, rather than declining sales: http://blog.devoncroft.com/2014/02/24/avid-to-be-delisted-from-nasdaq-on-february-25-2014/