NEW YORK :Symphony Technology Group and Francisco Partners are among the private equity firms competing to acquire media editing software maker Avid Technology Inc, according to people familiar with the matter.
A deal could be inked as early as this month, the sources said, requesting anonymity as these discussions are confidential. Avid is scheduled to report quarterly earnings on Aug. 9. Avid, Goldman and Francisco Partners declined to comment. STG has not responded to a request seeking comment. Francisco Partners is a prolific tech investor, which has raised over $45 billion to date. Earlier this week, Francisco Partners teamed up with TPG Inc to acquire New Relic for $6.5 billion.
Source: News Formal (newsformal.com)
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