Blum Capital continues to invest in Avid Technology

By Lisa Kerner

Charlotte, N.C., May 7 - Investors led by Blum Capital Partners, LP upped their stake in Avid Technology Inc. to 20.4% from 19.2% with the purchase of 466,036 additional shares of the company's stock.

The shares were acquired between May 1 and May 6 priced from $20.60 to $21.03 each, according to a schedule 13D filing with the Securities and Exchange Commission.

Blum and its affiliates beneficially own 7,604,093 shares of the Tewksbury, Mass., digital media content provider's stock.

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