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posted on July 23, 2012 15:14
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Corel Acquires Pinnacle Products from Avid
Corel today announced that it has acquired Avid's consumer video editing product lines, including Pinnacle Studio family, Avid Studio, Avid Studio for iPad and the Dazzle video hardware(including Dazzle Video Creator Platinum HD). These industry-leading titles join Corel's award-winning digital media product portfolio, securing the company's position as the leader in consumer video editing software. With the power of the Pinnacle Studio and Corel VideoStudio brands, Corel now offers the industry's broadest consumer video editing software portfolio.
Corel will offer the Pinnacle consumer video editing products to customers and partners through its global sales, marketing and services organizations. As part of the transaction, the company will welcome a core group of employees from the Pinnacle product team to its digital media group, which is also responsible for the company's VideoStudio®, PaintShop® Pro, WinDVD® and Roxio® product lines.
This is all what we know so far... As soon as we have additionnal information, we will inform you.
On our side, it's a surprise, we were not aware of anything like that. We hope that Studio products will survive, at least that's what we understood. We can make hypothesis, we saw on a PDF file for tonight conference that a capture with Pinnacle Studio, Pinnacle Studio Plus and Pinnacle Studio Ultimate boxes are shown...
Is it the future Pinnacle Studio 16 ??... And what about AVID Studio ? AVID Studio for iPad will survive, that's the information we saw in some websites.
Update 22nd July
Following an interview with Matt Di Maria (Vice President and General Manager of the Digital Media Division at Corel) made by VideoAktiv (German site), it would seem that the products will be sold with the term "Pinnacle" (which does not necessarily mean it will be Pinnacle Studio as we know it today, but rather an Avid Studio which will change its name to Pinnacle Studio, as the screenshot above describe it, while Corel Studio would integrates the capabilities of Pinnacle Studio). That's what we talked about in the comments below ...
Update 2nd July - 22H00
Few answers obtained from AVID/Pinnacle:
- Question-I heard about Corel acquiring Pinnacle Products from Avid. What’s up ?
Answer-Corel has purchased the entire line of Pinnacle products from Avid®, including Avid Studio, Pinnacle Studio, Dazzle, and accessories. We’re very excited about this. Avid will be contacting all registered customers via email. The companies will work closely during the transition period, and there will be no interruption of service to our customers.
- Question-Who is handling support right now?
Answer-It’s business as usual. Avid will be transitioning support to the purchasers over the next few months. There will be no interruption in support.
- Question-What if I need to buy a support code? Do I buy from Avid?
Answer- You can buy a code now from Avid, and we’ll switch that over to the purchasers system in the next few months.
- Question-I just registered my product and got a support code-is it still good?
Answer-Yes, just use the information you got on the email with your code to access support.
- Question- Any other questions?
Answer- We don’t have any details yet as this was just announced. Watch our website for more info.