HARMONIC TO ACQUIRE OMNEON
Harmonic offers solutions for encoding, transcoding, content preparation, stream processing, asset management, edge processing and delivery. The acquisition would combine Harmonic’s strength in video delivery infrastructure with Omneon’s technology for the production, management and distribution of digital media.
Combined, the two companies have over 2,000 customers across more than 100 countries. Omneon’s customer base includes the BBC, BSkyB, CBS, Comcast, Discovery, NBC Universal and News Corporation. The deal represents approximately $274M — Harmonic will pay $190M in cash and issue approximately 17.1 million shares of its common stock.
Most of Omneon’s executive management team is expected to join the Harmonic team, including Omneon founder Larry Kaplan.