Blum Capital raises stake in Avid Technology to 17.5%

By Lisa Kerner

Charlotte, N.C., March 15 - Avid Technology Inc.. shareholder Blum Capital Partners, LP and its affiliates increased their stake in Avid Technology Inc. to 17.5% with the purchase of 741,106 shares of the company's common stock.

The stock was purchased between March 5 and March 14, priced between $32.65 and $33.79 per share, according to a schedule 13D filing with the Securities and Exchange Commission

Blum owns 7,213,989 shares of the Tewksbury, Mass., digital media content provider's stock, according to a schedule 13D filing with the Securities and Exchange Commission.

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