La commission européenne autorise l’acquisition de Pinnacle par Avid

Levallois Perret, le 4 août 2005- Avid Technology, Inc (NASDAQ / AVID) et Pinnacle Systems, Inc (NASDAQ :PCLE) ont annoncé aujourd'hui que la Commission Européenne a autorisé le projet d'acquisition de Pinnacle par Avid. Grâce à cette ultime autorisation réglementaire, les parties espèrent finaliser l'acquisition le 9 août 2005.

"Maintenant que nous avons achevé la procédure d'autorisation en Europe, nous pouvons finaliser la transaction et débuter la mise en place de notre projet pour l'entité combinée", a indiqué David Krall, Président et CEO d'Avid. "Au cours des derniers mois, nous avons développé un plan d'intégration qui optimise nos talents et technologies respectifs. Après la finalisation prévue la semaine prochaine, nous pourrons mettre en place notre programme en vue de capitaliser les opportunités qui naîtront de ce rapprochement".

Une fois l'acquisition bouclée la semaine prochaine, les actionnaires de Pinnacle recevront environ 6,2 millions d'actions Avid et environ 71 Millions de Dollars en cash.


Information additionnelle importante

Avid a déposé auprès de la SEC un document S-4 concernant le projet d'acquisition de Pinnacle par Avid et Avid et Pinnacle ont déposé auprès de la SEC et transmis à leurs actionnaires respectifs un prospectus commun sur l'acquisition autour du 16 juin dernier. Le document d'enregistrement et le prospectus commun contiennent des informations importantes au sujet d'Avid, Pinnacle, l'opération et les éléments afférents. Les investisseurs et les porteurs de titres sont invités à en prendre connaissance attentivement.



IMPORTANT ADDITIONAL INFORMATION FILED WITH THE SEC
Avid Technology, Inc. has filed with the SEC a Registration Statement on Form S?4 (Commission File No. 333-124475) in connection with the proposed acquisition of Pinnacle Systems, Inc. by Avid, and Avid and Pinnacle Systems, Inc. have filed with the SEC and mailed to their respective stockholders a Joint Proxy Statement/Prospectus in connection with the transaction on or about June 16, 2005. The Registration Statement and the Joint Proxy Statement/Prospectus contain important information about Avid, Pinnacle, the transaction and related matters. Investors and security holders are urged to read the Registration Statement and the Joint Proxy Statement/Prospectus carefully.

Investors and security holders are able to obtain free copies of the Registration Statement and the Joint Proxy Statement/Prospectus and other documents filed with the SEC by Avid and Pinnacle through the web site maintained by the SEC at www.sec.gov.

In addition, investors and security holders are able to obtain free copies of the Registration Statement and the Joint Proxy Statement/Prospectus and other documents filed with the SEC from Avid by contacting Dean Ridlon, Investor Relations Director for Avid at telephone number 978.640.5309, or from Pinnacle by contacting Deborah B. Demer of Demer IR Counsel, Inc. at telephone number 925.938.2678, extension 224.


Forward-looking Statements
Some statements in this press release may be “forward-looking statements” for the purposes of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements, including but not limited to: (i) the possibility that the transaction will not close or that the closing will be delayed; (ii) the challenges and costs of assimilating the operations and personnel of Pinnacle; (iii) the ability to attract and retain highly qualified employees; (iv) competitive factors, including pricing pressures; (v) reaction of customers of Pinnacle and Avid and related risks of maintaining pre-existing relationships of Pinnacle; (vi) fluctuating currency exchange rates; (vii) adverse changes in general economic or market conditions, particularly in the content-creation industry; and (viii) other one-time events and other important factors disclosed previously and from time to time in Avid’s and Pinnacle’s filings with the SEC and more specifically set forth in the Joint Proxy Statement/Prospectus filed with the SEC. The parties disclaim any obligation to update any forward-looking statements after the date of this press release.

A propos d’Avid Technology, Inc.
Avid Technology, Inc. est développeur de solutions numériques pour créer, gérer et diffuser les médias (Make Manage Move | Media™). Reconnue dans le monde entier par les professionnels comme un standard, la société Avid propose une gamme complète de systèmes de montage, compositing, effets spéciaux, animation 3D et solutions de travail collaboratif en réseau. En 2003, Avid lance la nouvelle technologie DNA et ouvre les voies de la post-production en HD. Précurseur dans le domaine, Avid propose aussi depuis plusieurs années des infrastructures de production en médias partagés avec des outils de workflow et d’asset management. Avid est présent chez les diffuseurs, post-producteurs, sociétés de production vidéo et multimédia, monteurs et réalisateurs indépendants ainsi que dans le monde institutionnel. Pour plus d’informations concernant les récompenses Oscars®, Grammy® et Emmy® attribuées aux produits et services de la société, veuillez visiter : www.avid.com



About Pinnacle Systems, Inc.
Pinnacle Systems provides broadcasters and consumers with cutting-edge digital media creation, storage, and play-back solutions for use at Home, at Work and on the Air. Pinnacle Systems’ award winning digital media solutions are in use around the world for broadcast, video editing, DVD and CDR authoring and on the Internet. A recognized industry leader, the company has received nine prestigious Emmy Awards for its technical innovations and carries this commitment throughout all of its product lines.

© 2005 Avid Technology, Inc. All rights reserved. Avid, Digidesign, Film Composer, and Pro Tools are either registered trademarks or trademarks of Avid Technology, Inc. in the United States and/or other countries. Avid received an Oscar statuette representing the 1998 Scientific and Technical Award for the concept, design, and engineering of the Avid® Film Composer® system for motion picture editing. Digidesign, Avid’s audio division, received an Oscar statuette representing the 2003 Scientific and Technical Award for the design, development, and implementation of its Pro Tools® digital audio workstation. Oscar is a trademark and service mark of the Academy of Motion Picture Arts and Sciences. Emmy is a registered trademark of ATAS/NATAS. Grammy is a trademark of the National Academy of Recording Arts and Sciences, Inc. All other trademarks contained herein are the property of their respective owners.