Avid sells PCTV product line to Hauppauge Digital

Announced today, the Pinnacle PCTV line will soon be property of Hauppauge Digital, not Avid Technology. After laying off 410 employees and divesting its Softimage 3-D game animation software business last Friday, the company has announced yet another major move in its restructuring efforts. According to Avid CEO Gary Greenfield, he's hoping to transform Avid's business into one that "focuses on software applications that not only meet consumer demand, but also complement our broader portfolio of video and audio solutions." Even he confessed that "PCTV [was] a compelling standalone hardware product and a better fit for Hauppauge, a recognized leader in the TV-viewing hardware market." While financial terms weren't disclosed, the deal is slated to close before the end of 2008, and the happy new owner has already announced its intentions to continue supporting and developing both the hardware and software components of the PCTV line.