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August 07, 2006
Avid Acquires VC-Backed Sibelius
Another M&A deal announced at the end of last week was Avid's acquisition of music annotation software developer Sibelius. The Independent reports the price paid was $23M, which will net the founders about $16M. It also said that VC-backer Quester bought 12.5 percent of the company for about $2.2M in 2000, which means the deal enabled the firm to triple its money.
The Register looked into the company's finances and says that Sibelius went cheaply, "around one-and-a-half times turnover."
Read - Avid buys Sibelius for a song (The Register)
Read - Founders net $16m as US firm buys music software group(The Independent)
Posted on August 7, 2006 07:03 AM | Posted to | Permalink
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