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The Story Behind Our Orad Acquisition Announcement

Announcement of Orad Acquisition Extends Avid Everywhere

What started as a vision in 2013 has transformed into a powerful platform for the entire broadcast community—Avid Everywhere. And while we’ve consistently delivered new platform solutions to do things like search and retrieve media across your entire enterprise, manage and orchestrate file-based media ingest, and deliver content to social and mobile channels and devices, we’re always looking to extend our solutions even further, so we can offer you the most comprehensive platform in the industry.

Today, we announced a definitive agreement to acquire Israel-based Orad Hi-Tec Systems, a leading provider of 3D real-time graphics, video servers, and associated workflow management solutions. We believe this acquisition will extend our Avid Everywhere vision by adding Orad’s content creation and media management solutions to the Avid MediaCentral Platform, already the industry’s most open, innovative and comprehensive media platform.

Founded in 1993, more than 600 customers worldwide rely on Orad’s cutting-edge technology to produce graphics, live events, and sports broadcasts, and we’re looking forward to expanding our portfolio and distribution network with their comprehensive line of news, channel branding, sports production and enhancement, elections and special events, virtual studios, video walls, and virtual advertisement products. What’s most exciting is these solutions are highly complementary to the current Avid product suite, which we believe will result in even more comprehensive workflows for our combined customers.

Over the next 8-10 weeks, we’ll be working closely with Orad to complete this transaction, and we look forward to sharing much more information about the integration of Orad’s solutions to the Avid MediaCentral platform as soon as they officially join the Avid family. Until then, we’ve offered below a few answers to questions you might have about the announcement.

The Orad and Avid product teams are excited for this transaction to be completed, and we can’t wait to collaborate with you as a unified team at Avid Connect 2016!

Frequently Asked Questions (FAQ)

What is Avid announcing today?

Avid (Nasdaq: AVID) today announced that it has signed a definitive agreement to acquire Orad Hi-Tec Systems Ltd., a Frankfurt stock exchange-listed public company with its headquarters in Kfar Saba, Israel, for €5.67 per share in an all-cash transaction. Orad is a leading provider of state-of-the-art 3D real-time graphics, video servers and associated workflow management solutions. The acquisition is consistent with Avid’s stated growth strategy, and Avid believes Orad will help it continue to deliver on the company’s Avid Everywhere vision, by adding key content creation and media management solutions to the Avid MediaCentral Platform, the industry’s most open, innovative and comprehensive media platform.

How will Avid’s customers and the larger media industry benefit from this transaction?

The Orad solution set will extend the Avid MediaCentral Platform, allowing us offer an even more comprehensive solution to our customers, and to the media industry. By expanding the solutions we offer as part of our Artist, Media and Storage suites, we expect that media organizations on the MediaCentral Platform will be able to reduce their burden of integrating disparate fragmented solutions into their production environments, resulting in less complexity, fewer interoperability challenges, and greater efficiency and productivity.

Further, given Avid’s well-defined growth strategy and efficient operating model, Avid is well-positioned to quickly integrate new acquisitions, maximizing benefits and minimizing disruption for both Avid and our customers. With the acquisition, we expect that Avid will also gain presence in new regions, which would help us better reach and support customers and all media organizations in and around these regions.

What can you tell me about Orad?

Established in 1993, Orad is a Frankfurt stock exchange-listed public company with its headquarters in Kfar Saba, Israel and additional R&D operations in Szczecin, Poland and Surrey, UK as well as regional offices in  key markets.

Orad was established around the theme of virtual advertisement in sporting events, and virtual studios. The company was one of the early inventors of those concepts and market segments. Over the years, the company grew its portfolio, offering state-of-the-art real-time graphics , video servers and associated workflow management solutions that address critical customer needs in news, channel branding, and live sports production.

Orad is at the forefront of those markets. Its achievements have been recognized by both its customers and the media, having been honored with multiple awards, including 2 Emmys. Orad has approximately 240 employees, and reported over $40 million of revenues during 2014.  Orad  has over 600 active customers around the world, including broadcasters such as RTL, ESPN, TF1, TV Globo, CCTV, Channel 4, HBO, DW, Canal+, Turner and Televisa and others.

How will Orad’s customers benefit from this transaction?

For Orad customers, this transaction should come as fantastic news. Joining the Avid family means that Orad customers will become partnered with one of the largest scale players in the media technology space, with momentum and market excitement. As a naturally strong, complementary fit, we expect that Avid and Orad will be able to offer Orad customers a more comprehensive, innovative solution set powered by a platform that improves efficiency while providing complete choice and flexibility. Avid is highly growth oriented, and with its Avid Everywhere vision and MediaCentral platform, has recaptured the industry’s attention. Avid plans to actively market and support the Orad products, and its global scale should provide broader distribution and support, in more countries around the world.

How does this acquisition fit into Avid’s growth strategy?

As Avid has stated publicly, M&A is an important part of our growth strategy, and by leveraging the MediaCentral Platform, we are uniquely positioned to drive growth and value by making acquisitions that complement our platform offerings and allow us to broaden our reach. Specifically, we expect that acquisitions that meet our strategic criteria will allow us to grow sales of new products tightly integrated with the Avid Media Central Platform, deliver greater efficiency to our customers by putting all that is common about the acquired products onto a common services platform, and reach more customers, including customers in new markets, migrating them onto the platform.

What happens next?

For our customers and partners, it will be business as usual until the transaction closes and Avid and Orad will operate as two separate companies. Between the time of this announcement and the close of the transaction, we will be seeking regulatory approval and the required shareholder approval from Orad’s side for the transaction. We are confident that we will achieve both approvals.

When will the transaction close?

We believe the transaction will close about 8-10 weeks after we signed the definitive agreement one we receive regulatory approval and the required approval from Orad’s shareholders.




Behind the Massive NBC Sports Remote Production Workflow for Super Bowl XLIX

Super Bowl XLIX is just around the corner and fans are already making arrangements for a day of competitive football, rich appetizers and memorable commercials—Super Bowl Sunday.

Whether fans gather at home, a friend’s house, or even a restaurant to watch the game on February 1, one thing is for sure, they are depending on the broadcast to be flawless. Powering the operations behind the broadcast of the Super Bowl is a big job but one NBC Sports is prepared to take on with help from Avid Everywhere and our fully integrated Avid MediaCentral Platform.

The large-scale remote production workflow required for the Super Bowl is made possible with the Avid MediaCentral Platform.

The large-scale remote production workflow required for the Super Bowl is made possible with the Avid MediaCentral Platform, enabling NBC Sports to facilitate remote collaboration and increase production by more than 30 percent.

However, game day isn’t the only focus of NBC Sports. During the week before Super Bowl, NBC Sports will broadcast several highly rated programs from downtown Phoenix, Ariz., the location of the game. And with the Avid MediaCentral Platform at the heart of operations, production teams in Phoenix will be able to collaborate in real time with producers and editors in Stamford, Conn., NBC Sports Group’s International Broadcast Center—more than 2,500 miles away.

“Using the Avid MediaCentral Platform, we are able to produce an incredibly large amount of content,” stated Darryl Jefferson, VP of Post and Digital Workflow at NBC Sports and Olympics. “By allowing everyone to access archived media wherever they are, we are significantly expanding the capacity of our production.”

Expanding collaboration further, NBC Sports is setting up two remote production facilities in the Phoenix area with each location outfitted with Media Composer editing stations and shared storage solutions integrated with Avid’s media asset management systems. Along with third-party WAN acceleration technology, the remote teams are able to leverage the production infrastructure at the Stamford facility.

By combining Avid asset management, editing, and storage solutions with third-party systems, we’re pushing the edge of remote production and creating a tightly-integrated environment that helps us meet the needs of one of the world’s top sporting productions.

“With Avid Everywhere, large-scale remote productions like the Super Bowl become location-free,” said Jim Miles, Director of Digital Workflow Systems at NBC Sports Group. “We can now do production in real time by tying together multiple locations and people all over the map. By combining Avid asset management, editing, and storage solutions with third-party systems, we’re pushing the edge of remote production and creating a tightly-integrated environment that helps us meet the needs of one of the world’s top sporting productions.”

Join NBC Sports and millions of fans on Sunday, February 1, as we tune in to see who will take home the Super Bowl XLIX championship title.




Pro Mixing: How Sound Designer and Re-Recording Mixer Will Files Creates Inspiring Feature Film Soundtracks on the Avid MediaCentral Platform

Pro Mixing: How Sound Designer and Re-Recording Mixer Will Files Creates Inspiring Feature Film Soundtracks on the Avid MediaCentral Platform

It’s IBC time again! It was one year ago at this show when we announced the revolutionary Pro Tools | S6 modular control surface. A lot has happened in that year, including three big software updates to answer customer needs and there’s another update just around the corner.

It was also at IBC 2013 that we unveiled the Avid Everywhere vision and the Avid Customer Association was formed.  Avid Everywhere is really about leveraging integrated technology to allow content creators to collaborate better, be more efficient and more creative (and ultimately connect them better with consumers). And while there are some really cool things coming with cloud collaboration, Avid Everywhere exists today with the Avid MediaCentral Platform. That’s a big name for the integrated technologies and products that our customers use every day and leverage to gain the most efficient and creative workflows they can. Pro Tools 11, Pro Tools | HDX, Pro Tools | S6, System 5, Media Composer, VENUE, ISIS shared storage and Sibelius are just some of the products on the platform. The way they work together and the ‘special sauce’ that integrates the workflows are things like EUCON protocol, Satellite Link/Video Satellite, VENUE Link, Sibelius notation in Pro Tools, DNxHD video and many more. It’s also an open platform that allows third-party developers to add functionality, an example of which is our fast-growing AAX audio plug-in developers.

Avid MediaCentral Platform

I love when I get the opportunity to interview and talk to successful people who are leveraging Avid Everywhere and the MediaCentral Platform right now—people like Sound Supervisor, Sound Designer and Re-Recording Mixer Will Files. Will is an engaging, young superstar in the film sound business and a real renaissance man.  He was profiled in The Hollywood Reporter’s “Crafts: The Next Generation” 2007 issue as one of “the brightest and most talented 35-and-under artisans” in the industry. Check him out in this recent interview we did at NAB 2014 in April, right before the big summer blockbuster release he supervised and mixed called: Dawn of the Planet of the Apes. He talks about his approach to feature soundtracks and doing it with the integrated tools of the Avid MediaCentral Platform.

“The huge advantage I’ve found with working entirely in Pro Tools – 100% Pro Tools mix – is that I can take it from facility to facility… It’s letting me maximize the amount of time I spend with the clients and on the final stage.” —Will Files

You can also watch the recent Secrets from Inside Bad Robot webinar that includes Will’s contributions to help design an audio mix workflow with Media Composer surround sound functionality at Bad Robot for the film Star Trek Into Darkness.  There are Pro Tools rigs for sound design and music editing and they contribute surround sound files to Media Composer video editorial, but it was J.J. Abrams desire to carry a really good temp mix in the video editorial process that drove them to create this evolved workflow. Bad Robot with Will Files is another great example of a customer who leverages all of our products across the MediaCentral Platform: Media Composer, Pro Tools, ISIS, Artist Series controllers, Satellite Technology and more….

Hope to see you either at IBC 2014 on the show floor orAvid Connect Europe on September 11th at the Future of Pro Mixing workshop!

“This building is the inspiring intersection of art and technology, one without the other would be nothing… it would be just half of a whole. But by putting them together and by having the incredible products that people at Avid make – we’ve been able to raise our game in a way that is actually kind of spectacular!” —Ben Rosenblatt, Producer, Bad Robot

Pro Mixing: How Sound Designer and Re-Recording Mixer Will Files Creates Inspiring Feature Film Soundtracks on the Avid MediaCentral Platform

Will Files at Bad Robot creating some sound design elements in Pro Tools with the Artist Control