Harmonic buys Entone's VOD software business
more on the topic
Harmonic has agreed to acquire Entone Technologies' video networking software business, the companies announced today.
In a deal valued at $45 million, Harmonic will pay $26 million in cash and about 3.54 million shares of common stock. In addition, Harmonic will assume $1.5 million in liabilities and extend a $2.5-million loan to Entone's consumer premise equipment business, which will be spun out to Entone's existing stockholders just before the acquisition closes.
Entone's software facilitates the provisioning of video-on-demand and network-based personal video recording services, time-shifted television and targeted ad insertion.
"'With Entone's on-demand software, Harmonic will be able to provide cable, satellite and telco/IPTV service providers an advanced and uniquely integrated delivery system for the next generation of both broadcast and personalized IP-delivered video services,"' Harmonic said in a statement issued this morning.
Harmonic expects the deal to close in October and be accretive as of next year's first quarter.
Related Articles
popular articles
Want to use this article? Click here for options!
© 2008 Penton Media Inc.
