International. Thomson Video Networks announced that it has received a binding offer from Harmonic, to acquire 100 percent of the company. The proposed transaction is consistent with Thomson Video Networks' strategy to accelerate its development, giving the company greater scale and the resources needed to drive more value and continuous innovation for the benefit of its global customers.
Accordingly, in response to this offer, Harmonic has been granted shareholder exclusivity of Thomson Video Networks while Harmonic secures adequate financing of the proposed transaction. The transaction is expected to close in the 1st quarter of 2016, subject to the consultation process of the French company committee and the acceptance of harmonic's takeover offer by Thomson Video Networks shareholders, as well as the receipt of regulatory approvals and other customary closing conditions.
The combination would create a clear market leader in video delivery capitalized on the solid foundations of both companies with their "premium video experience" approach and their respective geography, R&D and customer service strengths.
