# Turntide acquires AVID Technology for electrified powertrain components

US-based Turntide acquired Gateshead company AVID Technology Limited, which designs and manufactures electrified powertrain components for heavy-duty and high-performance electric and hybrid vehicles.

- Type: Acquisition
- Announced: 2021-06-30
- Where: Gateshead, England, United Kingdom
- Status: announced
- Products: electrified powertrain components and systems for EV and HEV
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [AVID Technology](https://endata.com/companies/3371.md) (target)
- [Turntide](https://endata.com/companies/56151.md) (acquirer)

## Sources

- [bdaily.co.uk](https://bdaily.co.uk/articles/2021/06/30/north-east-leads-electric-vehicle-revolution-as-us-firm-acquires-gateshead-cleantech), 2021-06-30: "US business Turnside has acquired Gateshead company AVID Technology Limited, which designs and manufactures electrified powertrain components and systems for heavy-duty and high-performance electric (EV) and hybrid vehicles (HEV)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.