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Avid closes acquisition of Wolftech

Avid has completed the acquisition of Wolftech Broadcast Solutions, provider of cloud-based multiplatform news planning, production and publishing solutions. The acquisition enables Avid to combine its digital-first, end-to-end media solution with Wolftech’s expertise in story-centric workflow management.

News organizations will be able to increase efficiency and accelerate story delivery through enhanced remote collaboration and multiplatform amplification. “This is an exciting moment. Wolftech is unquestionably on the leading edge of where the industry is going, and this acquisition demonstrates Avid’s commitment to transform news, sports, and live production workflows”, states Avid CEO Wellford Dillard. “We are delighted to welcome Wolftech into the Avid family.”

Wolftech CEO Arne Berven adds: “We were focused on finding a partner that could accelerate the adoption of our platform globally. We explored a number of possibilities, but when we talked to Avid, we knew it was the right match.” The closing of the acquisition follows Avid’s announcement on October 7, 2024, that the company had entered into a definitive agreement to acquire Wolftech.

With this acquisition, Avid deepens the integration between the two toolsets while continuing to embrace an open approach in partnering with a wide range of media production tools and newsroom systems.

(Photo: Avid/Wolftech)

www.avid.com

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