MATRIXSYNTH

Avid Sells M-Audio to inMusic

via Avid:

"BURLINGTON, MA, 2012-07-02

Today Avid® (NASDAQ: AVID) initiated a series of strategic actions to focus the company on its Media Enterprise and Post & Professional customers and to drive improved operating performance. As part of these actions, the company is divesting its consumer businesses. With these changes, Avid will concentrate on core markets where its deep domain expertise, track record of technical innovation, and strong brand offer the greatest opportunity for success.

“The changes we are announcing today make Avid a more focused and agile company,” said Gary Greenfield, CEO of Avid. “By streamlining and simplifying operations, we expect to deliver improved financial performance and partner more closely with our enterprise and professional customers. Our objective remains to provide these customers with the innovative solutions that allow them to create the most listened to, most watched and most loved media in the world. I’m excited about our future prospects.”

Avid has agreed to sell its consumer audio and video product lines. The company’s consumer audio products are being sold to inMusic, the parent company of Akai Professional, Alesis and Numark, among others. Headquartered in Cumberland, Rhode Island, inMusic's brands are best known for producing innovative products for music production, performance and DJing. The products involved in this transaction include M-Audio brand keyboards, controllers, interfaces, speakers and digital DJ equipment and other product lines. Avid will continue to develop and sell its industry-leading Pro Tools® line of software and hardware, as well as associated I/O devices including Mbox and Fast Track.

Separately, the company’s consumer video editing line is being sold to Corel Corporation, a consumer software company headquartered in Ottawa, Canada. The products involved in this transaction include Avid Studio, Pinnacle Studio, and the Avid Studio App for the Apple iPad®, as well as other legacy video capture products.

The divested product lines contributed approximately $91 million of Avid’s 2011 revenue of $677 million. As part of the transactions, certain employees of Avid will transfer to each acquiring company. Avid estimates that the proceeds from these transactions will be approximately $17 million, subject to closing inventory adjustment, with a portion held in escrow. Both transactions are expected to close today, July 2, 2012.

Avid also plans to reduce the number of its employees as it streamlines operations, with approximately 20% of its permanent employee base impacted by the divestitures and headcount reduction plans. The company currently expects to incur a restructuring charge of approximately $19 to $23 million related to these actions and other associated measures.

The company’s cash balance on March 31, 2012 was $49.7 million. The proceeds from the sale of these product lines should offset most of the restructuring charges paid in 2012.

Conference Call
A conference call to discuss these actions has been scheduled for today, July 2, 2012 at 12:00 p.m. ET. The call will be open to the public and can be accessed by dialing (719)-325-2234 and referencing confirmation code 2084154. The call and presentation slides will also be available on Avid’s website. To listen and view the slides, go to http://ir.avid.com/events.cfm prior to the start of the conference call..."

Fairlight Instruments Now Peter Vogel Instruments - New Products Coming

via Peter Vogel Instruments

"A facelift for Fairlight Instruments

Fairlight Instruments Pty Ltd is changing its name in anticipation of the release of some exciting new products.

The new name, Peter Vogel Instruments, reflects the company’s transition from building on the past to inventing the future.

I am delighted to announce that we will be unveiling some amazing new products over the coming year, under the new brand. These are now in development and all I will say is that we are working hard to make the new products accessible to the average musician, unlike the Fairlight CMI which back in 1979 cost more than the average house.

The CMI-30A, which we released last year as an homage to the original Fairlight CMI, will continue to be our prestige flagship product. A major upgrade now in the works will become available later this year to existing 30A owners free of charge.

The iOS app has been rebranded and has been withdrawn from the app store pending Apple’s approval. Existing app owners will see an update offered shortly. In response to customer requests, significant new functionality is being developed for release as a free update later this year.

We are also developing an entirely new keyboard product, quite unlike anything previously made by Fairlight — or anyone else.

All will be revealed at NAMM in 2013.

Exciting times!

Peter Vogel"

Din Sync VCF303 PCBs

via Din Sync

"The VCF303 pcbs are finally in and so the build starts. Still waiting on the jacks and board interconnects but they should be here by the time they are needed.

Not much longer now!"

Bach on the ARP Avatar Lumina

YouTube Published on Jul 2, 2012 by DJjondent

"J.S. Bach_ Well Tempered Clavier_ Prelude & Fugue No.2 C Minor BWV 847
Played on a pimped out ARP Avatar. Bach is probably rolling in his grave.

Just mucking around with the filter and LFO settings for now."

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RENE' chords

YouTube ublished on Jul 2, 2012 by capougello

"using the mind blowing makenoise renè to play some chords, fairly simple patch that needs for sure more experimentation... drums and clock coming from the machinedrum. clock is multed around with the 4ms scm, 4 vcos tuned in cm chord, half of the renè is sequencing the root note, other half used to play some variations. sound straight to machinedrum input, no processing at all..

I've just done some fine tuning of this patch to play some nice quasi-random variation in gate lenght and multi trig with the wogglebug and logic functions on the renè, what an amazing piece of gear, thanks makenoise!"