Broadcast and on-demand video delivery solutions provider Harmonic has completed its acquisition of video production and playout solutions, Omneon.
The US companies’ deal involves an ‘aggregate consideration’ of approximately US$194m in cash and approximately 17.1m shares of its common stock. This represents an enterprise value of approximately US$273m, based on the value of Harmonic's common stock as set forth in the definitive acquisition agreement and net of Omneon’s cash balances.
‘By bringing together a powerful range of market-leading technologies that span content contribution through delivery, and leveraging strong relationships with content producers and service providers around the globe, Harmonic is now uniquely positioned as a global leader in video infrastructure for the digital media industry,’ says Harmonic President and CEO, Patrick Harshman. ‘In combination with Omneon, we expect to deepen our relationships with global media companies, enabling them to create, package and deliver the next generation of video-centric media services.’
More: www.harmonicinc.com
More: www.omneon.com
