Broadcastnewsroom is reporting that Corel just acquired the entire line of Pinnacle products from Avid and terms of the acquisition is not disclosed but according to the post; Corel will acquire the entire line of Pinnacle products from Avid that includes Pinnacle Studio family, Avid Studio, Avid Studio for iPad and the Dazzle video hardware product line including Dazzle Video Creator Platinum HD.
Matt DiMaria, Corel’s EVP and GM of Digital Media said “With the power of the Pinnacle Studio and Corel VideoStudio brands, Corel now offers the industry’s broadest consumer video editing software portfolio,”…”These products will meet virtually any need or creative impulse – whether customers are looking to quickly capture, edit and share videos on their iPad or require the exceptional control of a full-featured desktop application.”
The acquisition will now give Corel a boost in the fast growing mobile market via the Avid Studio for iPad. Since at this time, Corel has yet to release a version of their major product for tablet, either for iOS or Android.
Corel and Avid have not release any official press release related the news.
Update: Corel published a press release announcing the acquisition, you read the full pr here.
Though this email newsletter from Avid/Pinnacle was posted by a user in the Roxio Forum can also be an indication that there’s indeed an acquisition.
Dear Valued Customer,
We have some exciting news related to our Pinnacle product line! Corel Corporation has acquired the entire line of Pinnacle products from Avid®, including Avid Studio® and Avid Studio for iPad, Pinnacle Studio®, Dazzle®, and accessories. Corel is looking forward to serving your future video creation needs and would like to contact you directly regarding product updates and special offers.
Within the next 30 days, Avid will be transferring your account information, including email address, first name, last name, postal address, registered products, as well as relevant product purchases, from the Avid web store. Avid will not be transferring any customer credit card or financial information to Corel related to purchases that have been made on avid.com or pinnaclesys.com. Corel will use this customer account information to provide you with exceptional customer support. This transfer of account information is required to ensure that you continue to receive warranty benefits, and information about products and service updates. You may change your account profile setting at any time by clicking the link below:
You may also click here to opt out of Pinnacle email communications:
The Corel team values your business and appreciates the opportunity to serve you in
For more information about the Corel family of products, please go to www.corel.com.
If you can remember, Corel acquired Roxio from Rovi and if the Pinnacle acquisition is true, Corel will now be the leader in consumer video editing software, since it now caters to users from beginners to professionals and those in between.
Disclaimer: I’m a Corel Employee and just like everyone else I get my news from other sources and opinions I express on this site are my own and not official opinions of my current and former employer.