Friday, July 25, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Tablet Market Grows in Second Quarter
The Pirate Bay Goes Mobile
ASUS Announces Strix DSP, Strix Claw, Strix Tactic Pro and Strix Glide Series
China Telecom to Offer The Xbox One System
Thermaltake Debuts the Water 3.0 Ultimate All-In-One Liquid
HP Pavilion 10z Laptop Uses An AMD Mullins Processor
Google Does Not Confirm to $1 Billion Acquisition Of Twitch
Sony Settles 2011 PSN Hacking Case
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > Optical Storage > Pinnacl...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, December 19, 2002
Pinnacle Systems agrees to acquire Steinberg Media Technologies AG


Pinnacle Systems, Inc. (Nasdaq: PCLE - News), announced today that it has entered into a definitive agreement to acquire all of the stock of Steinberg Media Technologies AG based in Hamburg, Germany. Steinberg specializes in digital audio software solutions for consumers and professionals. The companies expect to close the transaction in early January 2003 and have agreed on a total purchase price of approximately $24 million, consisting of $8.2 million in cash and $15.8 million of Pinnacle Systems common stock.

At closing, Pinnacle Systems will acquire all products, software, and intellectual property rights, along with all other assets and liabilities of the company. Pinnacle will account for this transaction as a purchase in Pinnacle Systems' fiscal Q3, ending March 31, 2003. The Company will host a conference call at 2:00 p.m. (Pacific Time) on December 18, 2002. The call in number is 800-634-1569, no password required.

J. Kim Fennell, President and CEO at Pinnacle Systems said, "We are delighted to welcome Steinberg's customers and employees into the Pinnacle family. Steinberg is a recognized industry leader in digital audio and this transaction significantly broadens Pinnacle's digital media offerings. By adding the talent and technology of Steinberg to our company, we believe we can bring our customers an even stronger solutions portfolio."

"Steinberg is pleased to be joining forces with Pinnacle Systems. Our customers and products will benefit greatly from the combined resources of the two companies and we look forward to bringing audio production expertise to the award-winning Pinnacle Systems' product lines," said Manfred Rurup, President of Steinberg Media Technologies AG.


Previous
Next
Universities compete in Pioneer's extreme DVD making competition        All News        Universities compete in Pioneer's extreme DVD making competition
Universities compete in Pioneer's extreme DVD making competition     Optical Storage News      Universities compete in Pioneer's extreme DVD making competition

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
Pinnacle Brings TV to PCs Running Vista
Pinnacle HD DVD Authoring Pack Lets Consumers Showcase Their Home Movies in HD
Pinnacle Unveils New Consumer Video Editing and TV Viewing Products
Pinnacle Unveils Next Generation of Studio Software
Avid to buy Pinnacle Systems
YAMAHA to acquire common stock of Steinberg Media Technologies from Pinnacle Systems
Dolby Digital 5.1 Creator Technology Brings Multichannel Sound Authoring to Pinnacle Video Editing Software
Pinnacle updates ShowCenter Digital Media Receiver
LaCie Big Disk Extreme Qualified for Use with Pinnacle Systems Cin?Wave
Pinnacle updates ShowCenter with personal video recording features
Pinnacle launches InstantCopy 8 CD/DVD burning software
Pinnacle Systems announces interoperability with Macromedia Flash MX Professional 2004

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .