(NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced the completion 🧬 of its acquisition by an affiliate of STG in an all-cash transaction valued at approximatelyR$1.4 billion.

Combined with their significant operational and 🧬 financial resources, STG brings deep investment experience in the technology sector that will accelerate the achievement of Avid's strategic vision, 🧬 building on the momentum of our successful ongoing transformation achieved over the past several years.