Sayenko Kharenko, working with Paul Hastings, has advised STG on the acquisition of Avid Technology. Sidley Austin reportedly advised the sellers.
According to Sayenko Kharenko, the transaction is structured as a merger and is expected to close during the fourth quarter of 2023, subject to Avid stockholder approval, regulatory approvals, and other closing conditions. The deal value is USD 1.4 billion.
STG is a private equity partner to companies operating in data, software, and analytics.
Avid Technology is a NASDAQ-listed American technology and multimedia company that develops digital non-linear editing systems, video editing software, audio editing software, music notation software, and management and distribution services.
The Sayenko Kharenko team included Partner Oleksandr Nikolaichyk, Senior Associates Ilhar Hakhramanov and Pavlo Kovalchuk, Associates Alina Kylymenchuk, Anastasia Bondarenko, and Nazarii Pylypchuk, and Junior Associate Dmytro Zaiachkivskyi.