Avid Technology to sell Pinnacle PCTV
(Reuters) - Digital video editing and software firm Avid Technology Inc (AVID.O) said it agreed to sell its Pinnacle PCTV product line and related assets to Hauppauge Digital Inc (HAUP.O) to increase its focus on software applications.
Financial terms of the deal, which is expected to close by the end of 2008, were not disclosed. Hauppauge expects to continue developing and supporting both the hardware and software components of the PCTV line following the closing of transaction, , Avid said in a statement.
Pinnacle PCTV helps in watching and recording television shows on a personal computer.
(Reporting by Purwa Naveen Raman in Bangalore; Editing by Pratish Narayanan)
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