Harmonic buys Entone's VOD software business
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.
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