Vegas Pro 16 is the latest version of the powerhouse video production software, and right now it has £459/$499 off if you buy new – and £639/US$748 off when you upgrade from a previous version.

This brings the price to £299/US$399 and £209/US$249, respectively, though you can also sign up for a free trial if you prefer. 

Head over to Vegas's site to get this deal now. US visitors can go here. The sale ends 30 January, so you will have to be quick. If you're upgrading, you will need to have the serial number and login details ready.

Vegas Pro 16 offers HDR colour support, video stabilization, motion tracking, multicamera editing, 360-degree editing, automatic subtitle creation and other advanced features that pro-sumer video editors may find useful. Our colleagues at PC World US reviewed the previous version of the program and called it "one of the best semi-pro video editing applications for the price".

The offer includes the video compositing plug-in suite, NewBlue Elements 3 Ultimate as well, which is worth £259/US$299 on its own. Customers who are upgrading get both Elements 3 Ultimate and NewBlueFX Stylizers 5 Imagine (worth £90.99/US$90.99), which lets you add various additional effects to your footage.

This is the best price available for the software at the moment. Amazon has the software too, but for £520.52 and US$399 in the US, but you don't get the additional plug-in suites.

Also see our round up of the best free video editing software.