Avid acquires Wolftech
November 5, 2024
Avid, a specialist in software solutions for professional media production, has completed the acquisition of Wolftech Broadcast Solutions, a player in cloud-based multiplatform news planning, production and publishing solutions.
The acquisition enables Avid to combine its digital-first, end-to-end media solution with Wolftech’s expertise in story-centric workflow management. Avid says news organisations will consequently be able to increase efficiency and accelerate story delivery through enhanced remote collaboration and multiplatform amplification.
Avid CEO, Wellford Dillard, commented: “This is an exciting moment. Wolftech is unquestionably on the leading edge of where the industry is going, and this acquisition demonstrates Avid’s commitment to transform news, sports, and live production workflows. We are delighted to welcome Wolftech into the Avid family.”
Wolftech CEO, Arne Berven, added: “We were focused on finding a partner that could accelerate the adoption of our platform globally. We explored a number of possibilities, but when we talked to Avid, we knew it was the right match.”
Ian Axton, Head of Production Operations for ITV News, said: “As a customer of both Avid and Wolftech we’re excited about the benefits this acquisition will bring to our users and our business. Wolftech has transformed the way our journalists work and collaborate across our multiple newsrooms and platforms. We see deeper integration with Avid MediaCentral as the next logical step in bringing a single pane of glass newsroom solution to life and see this acquisition as a very positive way to accelerate that.”
Dillard concluded: “This acquisition strengthens Avid’s position in the news market and confirms our commitment to deliver best-in-class solutions that empower news organizations to thrive in today’s fast-paced digital landscape. Together, Avid and Wolftech will enable news production teams to accelerate storytelling – from pitch to publish.”
Financial terms were not disclosed.