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Avid Buys Orad for 60 Million

April 13, 2015, 06:04 PM

BURLINGTON, MASS.—Avid announced that it 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 ($US6.00) per share in an all-cash transaction valued at US$60 million. Orad is a provider of 3D real-time graphics, video servers and related asset management. The acquisition is consistent with Avid’s stated growth strategy and Avid believes it will continue to deliver on the comp...

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