Avid Selling Consumer Businesses, Will Focus on Pro Audio, Media
BURLINGTON, MA — Avid announced the sale of its consumer business units July 2 to focus on professional audio and digital recording/editing software. The company is selling M-Audio to inMusic and its consumer video division to Corel Corp. for a combined $17 million. Published reports noted the departure of COO Kirk E. Arnold and principal accounting officer Jason G. Burke and a decline in the company’s roster of employees worldwide from 1,750 to 1,400.
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