Avid has announced its definitive agreement to acquire Wolftech Broadcast Solutions, a provider of cloud-based multiplatform planning and publishing news production solutions.
This acquisition signifies Avid's commitment to revolutionizing news, sports, and live production workflows. By integrating Wolftech's expertise in story-centric workflow management with Avid's digital-first, end-to-end media solutions, the combined entity aims to empower news organizations to deliver stories across multiple platforms efficiently.
The integration of Wolftech and Avid is expected to enable news organizations to achieve rapid multiplatform amplification of their stories, leading to enhanced efficiency and improved remote collaboration.
Both Avid and Wolftech prioritize openness and customer choice. Wolftech already integrates with a wide range of tools, including Avid MediaCentral, and will continue to expand its integration with Avid solutions and other industry-leading platforms. This acquisition will strengthen the integration between the two toolsets while maintaining partnerships with other media production tools and newsroom systems.
Existing Wolftech customers will benefit from Avid's global scale, providing them with expanded customer support and professional services.
The planned acquisition of Wolftech positions Avid to deliver a unified suite of integrated tools with unique AI-powered features designed to empower news production organizations to:
- Streamline and automate workflows
- Enhance collaboration and content sharing
- Improve the efficiency of news production
- Optimize storytelling across multiple platforms
"We are thrilled to welcome Wolftech to the Avid family. This acquisition strengthens Avid’s position in the news market and underscores our commitment to deliver best-in-class solutions that empower news organizations to thrive in today’s fast-paced digital landscape,” said Wellford Dillard, CEO of Avid Technology, in a statement.
"Together, Avid and Wolftech will change the game for news production teams, delivering innovative tools and workflows that enable compelling, yet efficient, storytelling.”
Arne Berven, CEO of Wolftech, expressed his enthusiasm about the acquisition and its potential to drive innovation in news production workflows: “Joining forces with Avid represents an exciting opportunity for Wolftech to accelerate our mission of revolutionizing news production. By integrating Wolftech’s multiplatform planning, collaboration, and publishing capabilities with Avid’s industry-leading solutions, we will empower news organizations to adapt to evolving audience demands and deliver high-quality content across digital platforms more efficiently than ever before.”