Avid Technology Announces Amendment to Financing Agreement

World News: . []

BURLINGTON, Mass., March 20, 2017 (GLOBE NEWSWIRE) -- (), a leading technology provider for the creation, distribution and monetization of media assets for global media organizations, enterprise users and individual creative professionals, today announced an amendment to its existing financing agreement with Cerberus Business Finance, LLC, originally entered into on February 26, 2016.

"We are pleased to have worked with our lender, Cerberus, on this amendment to our financing agreement,” said Brian E. Agle, Avid’s Senior Vice President and Chief Financial Officer. “As our financing partner, Cerberus responded to our request and demonstrated its support for Avid as we complete the transformation and deliver a clearer, more predictable and profitable financial model.”

 

Media Contact
Sara Griggs
Avid
+1 310.821.0801
sara.griggs@avid.com

Investor Contact
Robert Roose
Avid
robert.roose@avid.com

More news and information about Avid Technology, Inc.

Published By:

Globe Newswire: 21:20 GMT Monday 20th March 2017

Published: .

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