Pinnacle selling off 21/12/04The plot thickens. We were surprised to hear of Pinnacle Systems Inc buying out Steinberg, one of the oldest audio software houses almost two years a go to the day. Now it looks like the creators of Cubase SX and Nuendo are set to change hands again. If all goes according to plan (subject to regulatory approval and stuff), the company will be coming under the ownership of the Yamaha Corporation sometime early next year - one might say, before the Inc had dried on the previous sale (bad pun).
"Steinberg’s accomplishments and leadership in the professional audio software industry are directly inline with Yamaha’s long track record of success in that same industry," said Patti Hart, Pinnacle Systems Chairman and CEO. "We believe the deal is beneficial to both Pinnacle and Yamaha, and is absolutely the right move for Steinberg."
As part of the transaction, Steinberg and Pinnacle will cross-license certain intellectual property on a royalty-free basis and Pinnacle will continue to distribute Steinberg’s WaveLab Lite audio editing product with Pinnacle Studio Media Suite.
This will certainly strengthen Yamaha’s drive for the adoption of mLAN as a new studio protocol and could well result in some exciting new hard/soft cross pollination. Time will tell.
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