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NEW YORK (Reuters) -Private equity firm Symphony Technology Group (STG) on Wednesday agreed to buy media editing software maker Avid Technology Inc for about $1.4 billion, including debt. As part of the deal, Avid shareholders will receive $27.05 per share in cash, the company said in a statement, confirming an earlier Reuters report. The deal represents a 32% premium to Avid's closing share price on May 23, the day before Reuters reported the company was exploring a sale.

NEW YORK (Reuters) -Private equity firm Symphony Technology Group (STG) on Wednesday agreed to buy media editing software maker Avid Technology Inc for about $1.4 billion, including debt. As part of the deal, Avid shareholders will receive $27.05 per share in cash, the company said in a statement, confirming an earlier Reuters report. The deal represents a 32% premium to Avid's closing share price on May 23, the day before Reuters reported the company was exploring a sale.

Company could be acquired by two Silicon Valley equity investors

NEW YORK :Symphony Technology Group (STG) 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.Avid started exploring options, including a sale, with the help of investment bank Goldman Sac

STG, Francisco Partners vie for Avid Technology