December 22, 2010 (Boston, MA) – Covington Associates LLC, a Boston-based specialty investment bank, announced the hiring of Managing Director Ethan Jacks to expand its Digital Media practice. The primary deal team, consisting of Ethan Jacks and John Bowen, has more than twenty-five years combined experience in the media technology markets.

Tom Cibotti, Managing Director of Covington Associates, comments, "We are thrilled to add Ethan to the Covington team. We look to Ethan and John's deep expertise in the rapidly-growing media technology markets to significantly strengthen Covington's presence in this sector."

Ethan Jacks added, "I am excited about this opportunity to join John and the talented team at Covington and to build upon the exceptional track record that the Firm has created in the middle market worldwide. We look forward to expanding its offerings across the digital media markets to include M&A, private equity and corporate partnering transactions."

Ethan Jacks spent seven years in several executive management positions at Avid Technologies, leading Avid through its most significant period of growth with 12 acquisitions, which helped double Avid's revenues to nearly $1 billion. Ethan brings a strong corporate development, finance, and legal background to Covington's Digital Media practice. He holds a BS and MBA from MIT and a J.D. from Georgetown University. Learn more about Ethan here

John Bowen recently advised the seller in Google's first acquisition of a public company, On2 Technologies, Inc. (NYSE Amex: ONT) and has successfully sold companies to Thomson, Avid, Miranda, and Sony, among others. John is the author of three industry research reports and is a frequent speaker at industry conferences. John's background in investment banking, research, and IT experience strengthens Covington Associates' expertise in the Digital Media space. Learn more about John here

About Covington Associates

Covington Associates is a Boston-based specialty investment banking firm founded in 1991 serving business services, consumer, industrial, healthcare and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed more than 150 transactions ranging in value from $10 million to nearly $2 billion for both private and publicly-traded companies.

To learn more about Covington Associates, visit www.covingtonassociates.com.



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