Pinnacle Systems
| Company type | Public (until acquisition) |
|---|---|
| Industry | Digital video equipment and software |
| Founded | January 1, 1986 in Sunnyvale, California, United States |
| Founder | Ajay Chopra, Mirek Jiricka, Randall Moore |
| Fate | Acquired by Avid Technology in 2005; product lines sold to Corel Corporation in 2012 |
| Headquarters | Sunnyvale , United States |
| Products | Pinnacle Studio, Dazzle, VideoSpin (Windows), Groovy Music City, Mobile Media Converter, Instant DVD Recorder, Video Capture for Mac, Avid Liquid, Deko character generators, MediaStream servers, Lightning still stores, Thunder video servers |
Pinnacle Systems, Inc. was a United States-based company specializing in the production of digital video equipment and software designed for both consumer and professional broadcast sectors. Recognized as a trailblazer in integrating computer workstations into video production workflows, Pinnacle dominated the digital video effects (DVE) hardware segment throughout the 1990s. Established in 1986 in California by Ajay Chopra (CEO), Mirek Jiricka, and Randall Moore, the firm rapidly gained prominence within the emerging digital video landscape.
History
In 1986, Pinnacle Systems was established in Sunnyvale, California by Ajay Chopra, Mirek Jiricka, and Randall Moore. Chopra brought experience from his roles at Burroughs Corporation and Atari as a systems architect and had previously managed Mindset Corporation’s video division prior to its 1985 bankruptcy. Utilizing this background, Chopra and his partners founded Pinnacle with a focus on digital video hardware development.
At the SMPTE convention held in 1986, Pinnacle presented early versions of a character generator alongside a DVE workstation, generating considerable attention from industry professionals. Within twelve months, the company attracted $1 million in venture funding and commenced production of its first offerings. By 1994, Pinnacle had achieved annual revenues of $10 million and secured a leading position in the DVE market segment. That year also marked the company’s initial public offering.
During the late 1990s, Pinnacle expanded its portfolio through several acquisitions: Miro Digital Video Products (Germany) for roughly $21 million in 1997; RasterOps (Truevision) for $14 million in 1999; FAST MultiMedia AG’s video editing division for $15 million in 2001; and VOB Computersysteme GmbH for $7 million in 2002. In 2003, Pinnacle purchased Steinberg, a prominent digital audio workstation manufacturer, for about $24 million but divested it to Yamaha for $28.5 million in 2004.
In March 2005, Avid Technology acquired Pinnacle via a stock exchange deal valued at $462 million, with the transaction concluding in May of that year. Subsequently, in July 2012, Avid transferred ownership of Pinnacle’s product lines to Corel Corporation.
Products
Pinnacle’s principal product range comprises:
- Pinnacle Studio
- Dazzle
- VideoSpin (Windows)
- Groovy Music City
- Mobile Media Converter
- Instant DVD Recorder
- Video Capture for Mac
- Avid Liquid
The on-air graphics solutions, currently marketed under the Avid brand, include:
- Deko character generators
- MediaStream servers
- Lightning still stores
- Thunder video servers
Assets sold off include:
- PCTV and TV for Mac, both acquired by Hauppauge Digital
Discontinued offerings consist of:
- SoundBridge
- Profiler
- TVCenter PRO
- Video Transfer
- PDS Video Switcher
- ShowCenter
- Miro Video DC10 series and DC30 series
- Pro-ONE
- DC1000 and DC2000
- DV500