Dextrys Signs Agreement with Avid Technology to Establish a Global Engineering Center in China

WAKEFIELD, Mass., October 14, 2008 — Dextrys, a premier US-based China outsourcing firm delivering Product Engineering and Application Services, is working with Avid Technology, Inc. (NASDAQ: AVID) to provide the company with product engineering services from China. By leveraging its client facing front-end in the United States in conjunction with its world-class engineering talent in China, Dextrys is delivering product development, enhancement, testing, and localization services to Avid as it seeks new market opportunities. The agreement increases Avid's overall engineering output capacity, flexibility and operational efficiency. 

“With multiple worldwide business locations already established in the US, the UK, Germany, Canada and England, we chose Dextrys to expand our product engineering capabilities and assist in establishing our presence in new markets such as China,” said Gary Greenfield, CEO of Avid Technology. “Dextrys’ China development facilities are excellent, and their local U.S. presence enables them to work with us on-site to proficiently manage critical engineering projects which will help us achieve faster time-to-market.”

China is rapidly becoming a top destination for offshore software development facilities due to its high-quality labor force, established infrastructure, attractive pricing, low turnover, controlled inflation and incredible market potential. Like other companies that partner with Dextrys, Avid recognizes China as a significant new market and offshoring destination. 

According to Gartner research, "The key elements driving interest include China's large resource pool, relative cost structure, solid infrastructure and, of late, increased central government support for the nascent outsourcing industry.”  Moreover, “China is a market worth investing in for the longer term, because it is the only other country that can match (or even exceed) India in terms of the number of graduates produced."1

¹ Analysis of China as an Offshore Services Location; Author: Partha Iyengar, et al., 30 November 2007

“Avid has long demonstrated that it is an innovative market leader in providing integrated digital media creation tools,” said Brian Keane, CEO of Dextrys. “We are honored to partner with Avid on this strategic initiative.” 

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About Dextrys

Dextrys is a US-based China outsourcing firm delivering Product Engineering and Application Services.   Dextrys combines 20 years of US technology project management and consulting experience with a world-class engineering presence in China. Dextrys clients operating in business markets such as financial services, high tech and healthcare gain local accountability, rich domain experience and high-quality outsourced development capabilities at substantial cost savings.  With more than 1,000 employees across Boston, San Francisco, Atlanta, Shanghai, Beijing, Hong Kong, and Suzhou, China, Dextrys is “making China easy.”  For more information, visit www.dextrys.com .  

About Avid Technology, Inc.

Avid is a worldwide leader in tools for film, video, audio, 3D animation, gaming and broadcast professionals – as well as for home audio and video enthusiasts. Avid professional and consumer brands include Avid®, Digidesign®, M-Audio®, Pinnacle Systems®, Sibelius®, Softimage® and Sundance Digital®. The vast majority of primetime television shows, feature films, commercials and chart-topping music hits are made using one or more Avid products. Whether used by seasoned professionals or beginning students, Avid’s products and services enable customers to work more efficiently, productively and creatively. For more information about the company’s award-winning products and services, visit www.avid.com . 

Avid, Digidesign, M-Audio, Pinnacle Systems, Sibelius, Softimage, and Sundance Digital are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks contained herein are the property of their respective owners.