Recording

Avid Acquires Rocket Network's Assets

Avid Technology (Tewksbury, Mass.) announced that it has acquired the assets of privately held software company Rocket Network (San Francisco). Future 4/10/2003 8:00 AM Eastern

Avid Technology (Tewksbury, Mass.) announced that it has acquired the assets of privately held software company Rocket Network (San Francisco). Future plans include Avid providing (through its Digidesign audio-business unit) collaboration and delivery products or services based on Rocket Network's technology. Terms of the deal were not disclosed.

"Rocket Network developed technology that has greatly excited and creatively charged the Digidesign Pro Tools audio community," said Dave Lebolt, VP and general manager of Digidesign. "By integrating this technology into our current offerings, we plan to provide Pro Tools customers the means to take advantage of smooth, collaborative workflow between Pro Tools systems over local area networks or the Internet. With powerful tools for easy and secure digital delivery of large media files of any type, including audio or video, this new technology will help our customers move vast amounts of media over the Web at high speed."

Prior to the acquisition, Digidesign had incorporated Rocket Network's technology into Pro Tools as part of the DigiStudio online service for track-based collaboration over the Internet, which used near-real-time interaction with a remote centralized data server for storage and billing. The technology will further enhance Avid's end-to-end digital workflow by increasing efficiency and speed from tighter integration between Pro Tools and Avid workgroup shared-storage technology.

For more, visit Avid online at www.avid.com, Digidesign at www.digidesign.com or Rocket Network at www.rocketnetwork.com.

January

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