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- Avid Technology (NASDAQ:AVID) soared 16% amid a report that it's exploring a potential sale
- The provider of video and audio editing software for filmmakers is working with Goldman Sachs on a sales process and has asked for binding offers, according to a Reuters report, which cited people familiar. Avid (AVID) has a market cap of about $900 million.
- Activist investor Impactive Capital was Avid's (AVID) largest holder with a 16% stake as of the end of March. The activist was given a seat on the company's board in late 2019.
- Avid (AVID) reported Q1 results earlier this month.