Mergers and Acquistions News
Categories: Media & Information Services
March 17th 2009, 17:19PM
Harmonic has completed the acquisition of Scopus Video Networks.
The deal is worth $5.62 (£4.02) per Scopus share, representing an enterprise value of around $50 million of Scopus' cash and short-term investments.
For Harmonic, the acquisition expands its customer base and strengthens its position in the broadcast contribution and distribution markets.
A statement from Harmonic anticipates the acquisition to be accretive to the firms non-generally accepted accounting principles in 2009.
Scopus customers will be supported by the expanded regional Harmonic sales and support teams.
Headquartered in Sunnyvale, California, Harmonic provides video facilities for cable, satellite, broadcast and telecoms service providers, including high definition, video-on-demand, network personal video recording and time-shifted TV.
It has numerous customers around the world, including Telefonica in Spain, Deutsche Telekom in Germany and various subsidiaries of Sky in east Asia.
The firm also announced that its technology has been recently selected to support a digital free-to-air television service in Germany.
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