/
02.09.2009 12:00AM
Scopus Shareholders OK Harmonic Deal

Scopus Video Networks said today its shareholders have approved of the company being acquired by Harmonic. A meeting was held Feb. 6, when votes representing 90 percent of outstanding Scopus shares were cast in favor of the deal.

The acquisition of Scopus, (NASDAQ: SCOP) a Tel Aviv, Israel firm focused on digital video processing, by Harmonic (NASDAQ: HLIT) of Sunnyvale, Calif., was first announced Dec. 22. Terms of the deal had Harmonic paying $5.62 per outstanding share of Scopus, for a total of around $51 million.

Scopus shares were trading at less than $4 at the time, but some of its investors balked at the deal, citing company performance. For the first nine months of 2008, Scopus generated $55.4 million in revenue, up 35 percent from the same period a year before.

The February shareholder vote OK’d the share prices of $5.62. When the deal goes down, Scopus will become a private company, with shares converted to cash. Subject to regulatory approval, the acquisition is expected to close next month.



Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Wednesday 9:02AM
Analysts: TV Regs 'Not as Dire as We Thought'
We feel the negatives are known and are a lot more comfortable recommending the space.


 
Featured Articles
Discover TV Technology