Pinnacle Systems, Inc. is a California-based American manufacturer of digital video hardware and software for the consumer and broadcast markets. The company was founded in 1986 by Ajay Chopra (CEO), Mirek Jiricka and Randall Moore. The company completed its IPO (NASDAQ: PCLE) in November 1994. In 1997 Pinnacle purchased Miro Computer Systems GmbH and in 2001 the video editing business of FAST MultiMedia AG. In 2002 Pinnacle purchased VOB Computersysteme GmbH. In 2003 Pinnacle purchased Steinberg, only to sell it off to Yamaha in 2004. Pinnacle was subsequently acquired by American company Avid Technology in August 2005. Avid subsequently sold Pinnacle products to Corel Corporation in July 2012.