SeaChange to acquire VividLogic
SeaChange International is to acquire all of VividLogic, a privately-owned California-based company that provides software and services to cable television service providers, set-top box manufacturers and consumer electronics (CE) suppliers. Its software products include tru2way, Multimedia Home Platform (MHP) and Globally Executable MHP (GEM)-based IPTV operability for set-top box and CE manufacturers, and in-home content protection, as well as funded software development for the creation of service provider-sponsored home media gateways. The combination of existing SeaChange in-home technologies and the VividLogic platforms will enable SeaChange to capitalise on the market shift towards IP-delivery into and within the home.
Under the terms of the definitive agreement, SeaChange will pay $12 million in cash.