Avid Technology Shares Up 10% After Renewing Cloud Collaboration With Microsoft
05 May 2020 - 9:27PM
Dow Jones News
By Chris Wack
Avid Technology Inc. shares rose 10% to $6.95 after the company
said it has renewed its cloud collaboration with Microsoft.
The media and entertainment technology provider said over the
course of the new five-year strategic alliance agreement, it will
continue to develop and deploy its cloud-based solutions on
Microsoft Azure.
Avid said that since the onset of the Covid-19 pandemic, it and
Microsoft also have mobilized rapidly to aid numerous Avid clients
urgently needing to transition their production personnel to
working remotely from their homes in order to keep entertainment
and news content pipelines flowing.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 05, 2020 07:12 ET (11:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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