Harmonic, a leading provider of video production and playback solutions, announced the signing of a definitive agreement through which it would acquire Omneon for approximately US$274 million in cash and harmonic shares.
The proposed acquisition would combine Harmonic's leading position in video delivery infrastructure, with Omneon's technology for the production, management and distribution of digital media.
Omneon's customer base includes companies such as BBC, BSkyB, CBS, Comcast, Discovery Communications, Echostar, NBC Universal, News Corporation, Televisa, Turner Broadcasting System and Viacom.
The combined companies' products and solutions are deployed with more than two thousand customers in more than one hundred countries for streaming and video-on-demand services delivered via cable, satellite, telcos, and mobile and broadband networks. The company will have a global research and development organization with 450 engineers, a combined sales and service organization of 330 people, and a network of more than 250 global sales channel partners.
The proposed acquisition is subject to customary closing conditions and regulatory approvals, and is expected to be finalized in the third quarter of 2010.
