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Four leading innovators become two in separate deals uniting complementary technologies and products.
The end of 1998 saw two major manufacturers of professional and broadcast video post equipment making separate deals to acquire complementary companies. Accom announced on December 10 its purchase of Scitex Digital Video for $10 million plus stock. Six days later, Pinnacle Systems disclosed that it had entered into a definitive agreement to acquire Truevision in a stock-for-stock transaction valued at $14 million. Although unrelated, both deals involve publicly traded companies, which by their nature must grow to maintain shareholder value.
Scitex Digital Video-maker of the Sphere line of nonlinear editing systems and Abekas effects, graphics, and switching products-was created in 1995 through the acquisition and subsequent merger of ImMIX and Abekas Video Systems; both were previously part of the Carlton Communications Group....