Originally featured on BroadcastEngineering.com
SeaChange buys Liberate Technologies’ international assets
SeaChange will pay $25.5 million for the international assets of Liberate Technologies.
SeaChange will also receive a cache of patents and other intellectual property, as well as European customers NTL, Telewest and UGC. SeaChange will hire 20 Liberate engineers and field support technicians in San Mateo, CA, and London, InternetNews.com reported.
Liberate is expected to bring $12 million a year in revenue and increase the amount of business SeaChange generates overseas.
The deal requires the approval of Liberate shareholders and is expected to close in June or July. Liberate chairman and CEO David Lockwood, who owns 12 percent of outstanding Liberate shares, has already committed his stake to the deal.
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