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Jul 06

Advised the shareholders of Sibelius Software Ltd on its acquisition by Avid Technology Inc

Quayle Munro announced today that it represented the shareholders of Sibelius Software Ltd., the leading music application software company in its c. $23 million cash acquisition by Avid Technology.

Sibelius, which is based in London, creates products for professional musicians, educators and students using computers to compose, teach and learn music. Avid Technology, Inc. is a world leader in digital media creation, management, and distribution solutions, the first choice for thousands of film, video, audio, animation, games, and broadcast professionals worldwide.

Kit van Tulleken, Quayle Munro, commented: "This is an excellent transaction for all parties. Combined, the two companies offer customers access to products across the entire computer-based music creation area - from composing and notation through to recording, publishing and distribution."

David Krall, president and chief executive officer at Avid Technology said, "For years, Avid Technology and its businesses have focused on fostering an environment where educators and students can learn how to create digital media content with the same industry-standard tools that are used by Grammy and Academy award-winning professionals. This acquisition will allow Sibelius and Avid to combine the strengths of their respective sales and education channels. Over time, our Pinnacle Consumer and Avid Video divisions will also benefit from Sibelius' channel expertise, as we explore new ways to expand distribution of any educational product developed by Avid Technology or one of its companies."

About Sibelius
Sibelius' core product comprises software tools for editing and arranging music notation in both electronic and printed form. Its customers include professional musicians, educational institutions at all levels; and individuals who need to provide musical notation as a means to publish their work. Sibelius Software Ltd. is the market leader in music notation software, with 180,000 registered users in more than 100 countries. For more information, please visit: www.sibelius.com.

About Avid Technology, Inc.
Avid Technology, Inc. is the world leader in digital nonlinear media creation, management, and distribution solutions, enabling film, video, audio, animation, games, and broadcast professionals to work more efficiently, productively, and creatively. For more information about the company's Oscar®, Grammy®, and Emmy® award-winning products and services, please visit: www.avid.com.

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