#TheWeeklyRoundUp - 18.08.23

Avid Technology Confirms $1.4 Billion Sale to STG, Says the Deal ‘Will Help Accelerate the Achievement of Our Strategic Vision’ (Digital music news)

Avid Technology (NASDAQ: AVID) has officially confirmed a “definitive agreement” to go private as part of a $1.4 billion acquisition deal with Symphony Technology Group (STG). Burlington, Massachusetts-headquartered Avid, the developer of digital audio workstation Pro Tools, only recently provided a formal update on the all-cash sale. Expected to wrap sometime during the fourth quarter (at which point Avid will cease trading on the public market), the proposed deal has received unanimous approval from the selling business’s board.

Behind the $1.4 billion debt-inclusive value attached to the transaction, “an affiliate” of private equity firm STG is specifically set to put up $27.05 per common share – or what’s said to be a more than 32 percent premium from AVID’s value during “the last full trading day prior to media speculation regarding a potential sale.”

Addressing STG’s purchase of his company, Avid president and CEO Jeff Rosica (who’s held executive roles for over a decade) said in part: “STG’s expertise in the technology sector and significant financial and strategic resources will help accelerate the achievement of our strategic vision, building on the momentum of our successful transformation achieved over the past several years.”

Expanding upon the point in comments of his own, STG managing partner William Chisholm communicated in part: “We look forward to leveraging our experience as software investors to accelerate Avid’s growth trajectory with a deep focus on technological innovation and by delivering enhanced value for Avid’s customers.

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GoldFish Announce Sixth Studio Album in Tandem With Release Of Sun-Kissed Title Track ‘If Summer Was A Sound’ (SA music news & entertainment)

Today, San Diego-based live electronic duo GoldFish (David Poole and Dominic Peters) announced their long-awaited sixth artist album, ‘If Summer Was A Sound’, coming September 29 via Armada Music. The announcement came in tandem with the release of the album’s sun-kissed title track, a collaboration with electro-pop talent Malou.

For the upcoming 22-track album, which sees GoldFish collaborate with a diverse and impressive lineup that range from Australian legend Xavier Rudd and Los Angeles electronic upstarts Laszewo, to U.K. based multi-instrumentalist sensation Youngr and Rio-based duo Cat Dealers, the title track ‘If Summer Was A Sound’ effortlessly sets the tone.

Upbeat and graced with the sultry vocals of the established songwriter and vocalist Malou, the song is a true celebration of life that embodies the quintessential GoldFish experience: live keys, saxophone and upright bass married with electronic production.

“To us, both the song we did with Malou and the upcoming album as a whole channel the sound of summer,” GoldFish say. “Music has the superpower to take listeners to a special time and place in their lives, and this time, it obviously triggers the memories of a wonderful, love-filled summer you can always look back on with a smile.”

To bring the album to life, GoldFish will be taking their acclaimed live show to Europe and South Africa in October. After kicking things off in Ireland, the pair will perform in London and Amsterdam before heading to Durban and Cape Town.