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BUSINESS (Notes)
12 Months Ended
Dec. 31, 2017
ORGANIZATION AND OPERATIONS
BUSINESS

Description of Business

Avid Technology, Inc. (“Avid” or the “Company”) develops, markets, sells, and supports software, hardware and integrated solutions for video and audio content creation, management and distribution. The Company does this by providing an open and efficient platform for digital media, along with a comprehensive set of tools and workflow solutions. Digital media are video, audio or graphic elements in which the image, sound or picture is recorded and stored as digital values, as opposed to analog or tape-based signals. The Company’s products and solutions are used in production and post-production facilities; film studios; network, affiliate, independent and cable television stations; recording studios; live-sound performance venues; advertising agencies; government and educational institutions; corporate communication departments; and by independent video and audio creative professionals, as well as aspiring professionals. Projects produced using Avid’s products and solutions include feature films, television programming, live events, news broadcasts, sports productions, commercials, music, video and other digital media content.

Subsequent Events

The Company evaluated subsequent events through the date of issuance of these financial statements and, other than the event disclosed in Note Q, no other subsequent events required recognition or disclosure in these financial statements.