SAN JOSE, CALIF.—Just about three months after announcing its acquisition of Thomson Video Networks, Harmonic has announced it has closed the deal.
“We are pleased to announce the closing of the TVN acquisition,” said Patrick Harshman, president and CEO of Harmonic. “By bringing together two powerhouses in the video industry, we further extend our position as the market leader. With expanded global R&D, sales and support teams, we are accelerating innovations and driving delivery of best-in-class solutions, products, capabilities and support services for our customers.”
The deal was originally announced in December of 2015, with Harmonic acquiring the French-based provider in advanced video compression technology for a reported $75 million in cash, and up to $15 million in post-closing adjustments. The final numbers upon closing of the deal were not disclosed.
With the addition of TVN, Harmonic now has a reported 600 engineers making up its video-focused global R&D organization, a global service organization of more than 300 professionals and a network of more than 300 channel partners.
Harmonic was advised on the acquisition by LD&A Jupiter.
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