Adobe Audition

Adobe Audition (formerly Cool Edit Pro) is a digital audio workstation from Adobe Systems featuring both a multitrack, non-destructive mix/edit environment and a destructive-approach waveform editing view.

Adobe Audition 3.0
Developer(s)	Adobe Systems
Initial release	18 August 2003
Stable release	3.0.1 / 18 December 2008; 2 years ago (2008-12-18)
Preview release	4.0 / 9 November 2010; 3 months ago (2010-11-09) (Mac OSX Beta)
Operating system	Windows XP SP2 and newer, Mac OS X Leopard 10.5.7 and newer (Beta).
Type	Digital audio workstation
License	Proprietary
Website	Adobe Audition Homepage

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Origins

Syntrillium Software was founded in the early 1990s by Robert Ellison and David Johnston, both former Microsoft employees. Originally developed by Syntrillium as Cool Edit, the program was distributed as crippleware. The full version was useful and flexible, particularly for its time. Syntrillium later released Cool Edit Pro, which added the capability to work with multiple tracks, as well as other features. Audio processing, however, was done in a destructive manner (at the time, most computers were not powerful enough in terms of processor performance and memory capacity to perform those functions in real time). Cool Edit Pro v2 added support for real-time non-destructive processing, and v2.1 added support for surround sound mixing and unlimited simultaneous tracks (up to the limit imposed by the actual computer hardware). Cool Edit also included plugins such as noise reduction and FFT equalization.
Adobe purchased the latest, non-shareware version (Cool Edit Pro v2.1) from Syntrillium Software in May 2003 for $16.5 million as well as a large loop library called "Loopology". Adobe then changed the name of Cool Edit Pro to "Adobe Audition".
  
Source: Wikipedia