SeaChange has completed the acquisition of Liberate Technologies’ business assets outside of North America.
Liberate supplies interactive television software to some network operators, including ntl, Telewest and UGC in Europe. Under terms of the acquisition, SeaChange and its subsidiaries have been assigned certain customer contracts, received patents and other intellectual property, and assumed certain limited liabilities, related to Liberate’s business outside of North America in exchange for approximately $23.5 million in cash consideration.
As part of the transaction, SeaChange will continue operations in Liberate’s former facilities in San Mateo, CA, and London. Employment for approximately 20 employees will continue.
For more information, visit www.schange.com.