Pinnacle Systems Inc., which makes such products as the Mac-based CineWave video editing solution has entered into a definitive agreement to buy the Dazzle home video editing business from SCM Microsystems.
Dazzle’s home video editing products have been designed to capture, edit, and share digital video for use with both analog and digital camcorders. Mac users often use the products for tasks such as getting old VCR tape footage into their Macs for turning them into digital video.
Pinnacle and SCM have agreed on a total purchase price of approximately US$21.5 million of Pinnacle Systems common stock and expect to close the transaction this month. Pinnacle will acquire selected assets and liabilities, including all product rights, inventory, intellectual property, trade names, and other rights related to the business.