Hauppauge, N.Y. - Hauppauge Digital, a developer of analog and digital TV receiver products, announced on Monday that it has agreed to purchase the Pinnacle PCTV product line and related assets from Avid Technology (NASD: AVID).

Financial terms of the transaction were not disclosed.

"Avid's PCTV products have become one of the most popular TV tuner consumer product lines throughout the world," said Ken Plotkin, president and CEO of Hauppauge.

"With both the Hauppauge WinTV and Avid PCTV product families, Hauppauge will now be able to offer our customers an expanded set of TV products for personal computers, from entry level TV tuner products for laptop computers to high end embedded TV receivers used by leading PC OEMs."

The deal follows closely on Avid's round of layoffs and the sale of its Softimage business to Autodesk last week.

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