Believes it is Critical to Add Directors with an Investor Mindset, and Capital Allocation and Financial Markets Experience Underscores Engine's Repeated Attempts to Avoid an Election Contest, Including by its Willingness to Settle for Reduced Board Representation Engine Capital, L.P. (together with its affiliates, "Engine"), a significant shareholder of MRC Global Inc. (NYSE:MRC) ("MRC" or the "Company") and the owner of nearly 4.3% of the Company's outstanding common stock, today announced it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of two highly qualified candidates for election to the Company's Board of

BURLINGTON, Mass., Nov. 21, 2023 (GLOBE NEWSWIRE) --  Leading media and entertainment technology provider Avid® has signed a multi-year subscription agreement with Icelandic state broadcaster RÚV to upgrade its server platform to Avid | Stream IO™, Avid's new ingest and playout solution.  Avid | Stream IO will provide RÚV with a software-based solution for production ingest and playout of news, sports, live entertainment and other TV content.  Iceland's national public-service broadcaster, RÚV, broadcasts linear and non-linear TV and radio across the country. RÚV Chief Technology Officer Bragi Reynisson explains, "Upgrading to Avid | Stream IO was a simple decision for us. We needed to

BURLINGTON, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Avid Technology, Inc. (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 approximately $1.4 billion. The acquisition was previously announced on August 9, 2023, and approved by Avid stockholders on November 2, 2023. Under the terms of the merger agreement, Avid stockholders will receive $27.05 per share. As a result of the completion of this transaction, Avid common stock will cease trading prior to the opening of trading on November 7, 2023, and will no longer be listed on the Nasda

Truist initiated coverage of Avid Tech with a rating of Buy and set a new price target of $45.00

Rosenblatt initiated coverage of Avid Tech with a rating of Neutral and set a new price target of $30.00

JP Morgan initiated coverage of Avid Tech with a rating of Overweight and set a new price target of $33.00

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BURLINGTON, Mass., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID) today announced the appointment of music and media technology executive David Toomey to Senior Vice President & General Manager of Audio & Music Solutions. David was selected for his exceptional track record and reputation of successful operations leadership of subscription businesses, digital commerce platforms and digital go-to-market strategies, making major contributions to leading music recording labels, technology providers and their renowned clients during the last 20 years of disruption and transformation across the media & entertainment and music industries. David Toomey joins Avid following six years with

BURLINGTON, Mass., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Media technology provider Avid Technology, Inc. (NASDAQ: AVID) today announced the appointment of Adistec® Corp. as sole master distributor of all Avid® audio and video products to Avid’s reseller network throughout 17 Latin American countries. Establishing Adistec as a strategic partner, Avid will leverage Adistec’s localized expertise to accelerate its logistics, finance and other processes in the region to keep pace with demand for content creation and management tools and solutions in television, film, music, and education markets. Headquartered in Miami, Adistec is a value-added distributor of datacenter, networking and security te

BURLINGTON, Mass., Dec. 08, 2020 (GLOBE NEWSWIRE) -- The Avid Customer Association (ACA) in partnership with Avid (NASDAQ: AVID) today announced the expansion of its executive board of directors with the appointment of four highly accomplished film and television creators including picture editor Shannon Baker Davis, supervising sound/Dia/ADR editor Bobbi Banks, editor and colorist Monica Daniel, and sound editor, mixer and composer Eric Johnson. The executive board oversees the ACA community which today fosters connections and collaboration among more than 30,000 members working in all aspects of media and entertainment to shape the future of media technology. “Right now, the ACA board i

Total revenue of $108.5 million, an increase of 11.1% year-over-year or 13.0% at constant currency Subscription Annual Recurring Revenue (ARR) of $154 million at quarter end, an increase of 27.0% year-over-year, and total ARR of $248 million, an increase of 7.1% year-over-year Subscription revenue of $44.4M, an increase of 30.2% year-over-year, driven by a net increase of 17,700 Active Paid Software Subscriptions in the quarter, including continued growth in enterprise subscriptions BURLINGTON, Mass., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced its financial results for the second

Stockholders to Receive $27.05 Per Share in Cash Transaction Represents 32.1% Premium to Avid's Unaffected Share Price on May 23, 2023 Avid to Become a Privately Held Company Upon Completion of the Transaction BURLINGTON, Mass., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into a definitive agreement to be acquired by an affiliate of STG in an all-cash transaction valuing Avid at approximately $1.4 billion, inclusive of Avid's net debt. Under the terms of the agreement, Avid stockholders will receive $27.05 in cash for each share of Avid common stock. T

BURLINGTON, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Wednesday, August 9, 2023, at 5:30 p.m. ET to discuss the company's earnings for the second quarter of 2023, ended June 30, 2023, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the E

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