Avid Acquires Exclusive Licensing Rights to Nexidia's Award-winning Technology for the Media and Entertainment Market

Avid® (Nasdaq: AVID) today announced it has completed another significant development for the MediaCentral® Platform by exclusively licensing the rights to develop and commercialize Emmy® Award-winning media and entertainment technologies and solutions from Nexidia, a leading developer of dialogue and audio analysis products. The addition of Nexidia solutions will complement the MediaCentral Platform, and allow Avid to further deliver on its commitment to give media and entertainment professionals more content creation and distribution workflows with greater choice, flexibility, and operational efficiency, a key tenet of Avid Everywhere™.  

Avid will integrate Nexidia’s groundbreaking and Emmy award winning media and entertainment products, like Dialogue Search and Illuminate with Comply, QC, and Align modules into the MediaCentral Platform, infusing MediaCentral with new and unique content discovery capabilities, and expanded quality assurance, reporting and content repair capabilities. Media and entertainment professionals worldwide rely on these products to help automate content creation and distribution workflows, giving them more time for creative freedom.

Avid can now license Nexidia’s unique phonetic indexing technology, Search Grid, to other developers of professional media applications, and will continue to support the integration of Nexidia products and technologies with third-party solutions, underscoring Avid’s commitment to openness.

“We are thrilled to offer the Nexidia media products to the media and entertainment industries,” said Louis Hernandez, Jr., Chairman, President, and CEO of Avid. “The addition of Nexidia’s products to the MediaCentral Platform demonstrates our commitment to giving customers greater choices and new levels of creativity and efficiency.”

The combination of Avid and Nexidia solutions is expected to deliver a number of significant benefits for customers, including:

• Higher quality content – Content creators can more easily find all relevant source material, ensuring they’re using the best material available

• Lower production costs – Computer algorithms help automate the tagging of content libraries for future discovery, eliminating the need to painstakingly organize raw materials and align takes to scripts

• Increased monetization of content libraries – Unique content processing tools automatically check whether finished programs contain the right language audio tracks, audio descriptions, and captions, eliminating expensive manual quality checks, content repair and rework.

Availability

The following Nexidia products are now available as Avid products and can be purchased from Avid:

• Avid Dialogue Search
• Avid Illuminate
• Avid Comply
• Avid QC
• Avid Align
• Avid Search Grid

An update regarding Avid’s ScriptSync® and PhraseFind™ options for Media Composer® will be announced in early December 2016.

Complete integration of these products and technologies into the MediaCentral platform is planned for release in 2017.

Investor Contact:
Avid
Robert Roose
978.640.3375
[email protected]