Pinnacle adds Dazzle to video business

Pinnacle Systems, a software maker specializing in video editing programs and other digital media applications, announced that it plans to acquire the Dazzle home video editing business from SCM Microsystems. Pinnacle will acquire all rights to Dazzle products, which include PC peripherals and software for video editing.

Pinnacle expects to complete the all-stock deal, valued at around $21.5 million, by July 31. The company has been one of the leading creators of professional video editing software, and the Dazzle products will help expand the company's push into the consumer segment. "Combining Pinnacle's industry-leading Studio video editing products with Dazzle's brand gives us a strong position that lets us bring a wider variety of products to our customers and be the obvious choice for home video editing," Pinnacle CEO J. Kim Fennell said in a statement.