Avid, Pinnacle shareholders approve acquisition

Shareholders of both Avid and Pinnacle approved proposals necessary to allow Avid's acquisition of Pinnacle to move forward. The closing of the transaction remains subject to approval by European regulators.

On March 21, 2005, Avid and Pinnacle announced that Avid entered into a definitive agreement to acquire Pinnacle in a cash and stock transaction.

See Pinnacle Systems at IBC2005 stand 1.210 or visit www.pinnaclesys.com.

See Avid Technology at IBC2005 stands 7.830 and 7.938 or visit www.avid.com.

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