Avid acquistion of Orad Hi-Tec Systems is complete
Avid has completed its acquisition of Orad Hi-Tec Systems, a provider of 3D real-time graphics, video servers, and related workflow management solutions. The Orad product lines are complementary to the Avid MediaCentral Platform and allow Avid to further deliver on its commitment to give media organisations and creative professionals more comprehensive workflows.
More than 600 customers worldwide currently rely on Orad’s technology to produce graphics, live events, and sports broadcasts. Avid plans to expand its portfolio and distribution network with Orad’s line of news, channel branding, sports production and enhancement, elections and special events, virtual studios, video walls, and virtual advertisement products.
“Orad has built an incredibly talented team of visionaries and product experts as well as a culture of customer success, and we are thrilled to have them as part of the Avid family,” said Louis Hernandez Jr., Chairman, President, and CEO of Avid. “Many of Avid’s and Orad’s solutions are already well integrated and widely used together by the world’s top media organisations, and we are working aggressively to bring all of Orad’s product lines into the Avid MediaCentral platform quickly. We look forward to keeping the community updated on our progress in the coming weeks and months.”