Corel, known throughout the years for its image editing software Corel Draw, has today expanded its video editing portfolio with the acquisition of Avid’s Pinnacle range of software products on both the desktop and mobile.

The company will assume control of software suites including Pinnacle Studio HD and Avid Studio, welcoming a select group of employees from the Pinnacle product team to its digital media group, which develops its existing VideoStudio, PaintShop Pro, WinDVD and Roxio product lines.

That means that Corel will now sell Avid Studio for PC, Avid Studio for iPad, Pinnacle Studio HD Ultimate Collection, Pinnacle Studio HD and the Dazzle video hardware product line including Dazzle Video Creator Platinum HD.

With Microsoft and Apple offering more consumer-friendly editing products, Avid appears to be shedding a number of its products and businesses in order to consolidate.

In a separate release, the company announced that it has sold its AIR Software Group (an audio software and technology development team) and M-Audio (the world’s largest manufacturer of keyboard controllers) to inMusic, a new company that is comprised of premier brands including Akai Professional, Alesis, Alto Professional, ION Audio, Numark and Sonivox.

[Image Credit: Bob Bekian]