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BITS & PIECES www.postmagazine.com 9 POST SEPT/OCT 2023 LONDON'S MACHINE OPENS NYC SOUND STUDIO NEW YORK CITY — Machine (machinesound.co), the London-based sound and music production company, has opened up a new studio in Manhattan on West 22nd Street. The London location has built long-standing creative partnerships with many clients in the US, leading to the decision to open a location in the Flatiron District. At the helm of Machine's venture is executive producer Matej Oreskovic, who joined the London team in 2018 after having worked at some of the industry's leading sound and music companies. In his time at Machine, he led the company's evolution from a boutique studio to an award-winning, trans- atlantic audio company. Alongside Oreskovic is senior sound designer/mixer Michalis Anthis, who joins the New York team with over ten years of experience in sound design, composition and mixing. Having honed his craft at Big Kahuna and 750mph, Anthis' body of work includes projects for Samsung, Rapha, The Winter Olympics, McDonald's, Delta, Oakley and Lurpak. "I am thrilled to be joining Machine's roster for their new venture in New York City," says Anthis. "This is an incredible opportunity for new creative endeavors, working alongside a fresh and talented team." "I have been a fan of Michalis' work for some time now," adds Oreskovic, "and I'm thrilled we finally have a chance to work together. After a week in the studios, it felt like everyone knew each other for years. We have a brand-new space; a young, ambitious team; and passion for our craft! We can't wait to roll up our sleeves and show what we can bring to the table." US managing director of the Final Cut Group, Justin Brukman, says they are "very excited to be introducing some fresh and insanely-talented people to the New York market. Building upon our heritage and passion for craft and creative excellence, our studios' technological innovations will allow us to be even more nimble as we continue to provide creative solutions across all mediums." Machine's work spans commercials, sonic branding, TV series and feature films. STG AFFILIATE TO ACQUIRE AVID BURLINGTON, MA — Avid (avid.com), the company behind the Media Composer nonlinear editing system and Pro Tools digital audio workstation, has entered into a definitive agreement to be acquired by an affiliate of STG. The all-cash transaction values Avid at approximately $1.4 billion, inclusive of Avid's net debt. Under the terms of the agreement, Avid stockholders will re- ceive $27.05 in cash for each share of Avid common stock. The cash purchase price represents a premium of 32.1 percent over the company's unaffected closing share price on May 23, 2023, the last full trading day prior to media speculation regarding a potential sale of the company. "Since our founding over 30 years ago, Avid has delivered technology that enables individuals and enterprises who create media for a living to make, manage and monetize today's most celebrated video and audio content across the globe," states Jeff Rosica, Avid's CEO/president. "We are pleased to an- nounce this transaction with STG, who share our conviction and excitement in delivering innovative technology solutions to address our customers' creative and business needs. STG's expertise in the technology sector and significant financial and strategic resources will help accelerate the achievement of our strategic vision, building on the momentum of our successful transformation achieved over the past several years. This transaction represents the start of an exciting new chapter for Avid, our customers, our partners and our team members, and is a testament to the importance of Avid and our solutions in powering the media and entertainment industry." John P. Wallace, chairman of the Avid board of directors, adds, "This trans- action is the result of a comprehensive review of strategic alternatives for Avid. Upon closing, this transaction will deliver immediate, significant and certain value to our stockholders. After carefully evaluating a variety of options, the board determined that this transaction is in the best interests of Avid and its stockholders." "STG has admired Avid's heritage as a category creator and pioneer in the media and enter- tainment software market for many years," says William Chisholm, a managing partner of STG. "We are excited to partner with Jeff and the management team to build on the company's history of delivering differentiated and innovative content creation and management software solutions." (L-R) Matej Oreskovic and Michalis Anthis