On Friday, Shares of Avid Technology, Inc. (NASDAQ:AVID) inclined 2.35% to $5.66. The stock attained the volume of 162,045 shares. Avid® (AVID), declared that Avid NEXIS™, the industry’s first and only software-defined storage platform exclusively designed for storing and managing media, is now available. The award-winning platform facilitates fully virtualized storage so media organizations can adjust storage capacity mid-project, without disrupting workflows. Powered by the Avid MediaCentral™ Platform, Avid NEXIS delivers unrivaled media storage flexibility, scalability, and control for both Avid-based and third-party workflows. Designed to serve the smallest production teams as effectively as the leading media enterprises, it’s the only storage platform built with the flexibility to grow with customers at every stage of their business – fulfilling a key tenet of Avid Everywhere™.
“We are really happy to declare that Avid NEXIS is shipping. Now, media professionals and creative teams can share and access media assets from everywhere, while having the flexibility to adjust capacity as projects dictate, without disturbing their work,” said Dana Ruzicka, vice president and chief product officer, Avid. “Avid NEXIS delivers world-class performance, reliability and scalability, regardless of the tools that artists use.”
AVID stock, as of current trade, has shown weekly upbeat performance of 0.18 percent which was maintained at -7.83 percent in 1-month period. As a fully open storage platform, Avid NEXIS gives video professionals the performance, flexibility and efficiency of the industry’s most powerful storage solution, regardless of the editing application they choose to use. In addition to Avid Media Composer®, and Avid Pro Tools®, Avid NEXIS works with media creation applications from other leading vendors, counting Apple Final Cut Pro, Adobe Premiere Pro, Grass Valley EDIUS, and many others.
The flexibility of Avid NEXIS has attracted noteworthy customer interest since it was declared at the 2016 NAB Show. “We are thrilled about the versatility of the new Avid NEXIS storage platform,” said Jon Mauldin, vice president Technology at FotoKem NLS. “Avid has done a great job of adding in the flexibility needed for the many different types of productions that access a single storage system. We are very excited to offer this new technology to our clients.”
The year-to-date (YTD) performance reflected a -24.14 percent below last year. During the past three months the stock loses -24.25 percent, bringing six-month performance to -10.08 percent. The stock holds the market capitalization of $211.14M. The software-defined storage architecture of Avid NEXIS allows customers to select components that meet their current needs, and easily expand storage capacity and bandwidth as their business grows. Avid NEXIS is also the only scale-out storage solution that facilitates customers to dynamically tune the system to ensure that high-priority workflows always have the capacity, performance and data protection levels they require. Customers can give critical projects maximum performance, while throttling back on less critical workflows. This ability lets teams react quickly to changes, adjusting performance and protection levels to match the needs of a project at any stage in the workflow.
