Harmonic Announces Pending Sale of Its Video Business to MediaKind

Core Viewpoint - Harmonic has received a binding offer from MediaKind to acquire its Video Business segment for approximately $145 million in cash, which is expected to close in the first half of 2026, subject to regulatory approvals and employee consultation processes [1][2][3] Group 1: Transaction Details - The proposed acquisition is valued at around $145 million in cash [1][7] - The transaction is anticipated to close in the first half of 2026, pending regulatory approvals and a consultation process with the French employee works council [1][2] - Harmonic's Video Business will be integrated into MediaKind, which aims to enhance its product solutions and innovation capabilities [3][7] Group 2: Strategic Implications - This divestiture will allow Harmonic to sharpen its focus on its core Broadband business and growth priorities [2][3] - The transaction is expected to provide a significant capital infusion, improving Harmonic's balance sheet and financial flexibility [2][3] - MediaKind's acquisition of Harmonic's Video Business is seen as a strategic move to strengthen its position in the video delivery market and enhance its research and development capabilities [3][7] Group 3: Company Background - Harmonic is recognized as a leader in virtualized broadband and video delivery solutions, enabling high-quality video streaming and broadcast services globally [6][8] - MediaKind is a prominent player in the video technology landscape, serving over 2,000 global service providers and content owners [9]