RENNES, France -- Dec. 7, 2015 -- Thomson Video Networks, a global leader in advanced video compression solutions and backed by the private equity partner Edmond de Rothschild Investment Partners (EdRIP), announced today that it has received a binding offer from Harmonic (NASDAQ: HLIT), the worldwide leader in video delivery infrastructure, to acquire 100 percent of Thomson Video Networks.
The proposed transaction is consistent with Thomson Video Networks' strategy to accelerate its development by giving the company greater global scale and resources needed to drive more value and continuous innovation to the benefit of its customers.
Consequently, in reply to this offer, Harmonic has been granted exclusivity by Thomson Video Networks' shareholders while Harmonic secures adequate financing for the proposed transaction. The transaction is expected to close in Q1 2016, subject to French works council consultation process and the acceptance of Harmonic's acquisition offer by the shareholders of Thomson Video Networks, as well as receipt of regulatory approvals and other customary closing conditions.
The combination would create a clear market leader in video delivery capitalizing on both companies' solid foundations with their "premium video experience" approach and their respective geographical, R&D and customer services strengths.
More information about Thomson Video Networks is available at www.thomson-networks.com.
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About Thomson Video Networks
A global leader in advanced video compression solutions, Thomson Video Networks empowers media companies, video service providers, and broadcasters to deliver superior video quality at the highest density and lowest bandwidth for contribution, terrestrial, satellite, cable, IPTV, and OTT services. Through its innovative Behind Every Screen(R) approach, Thomson Video Networks combines both on-premises and cloud-based resources to create an all-encompassing video infrastructure for its advanced ingest/playout, branding, ad insertion, encoding/transcoding, and packaging technologies. Media enterprises now have every key capability they need to raise video quality and reduce cost of ownership not just for broadcast, but also for multi-screen services on every device and platform. Behind Every Screen you'll find Thomson Video Networks. Visit www.thomson-networks.com.
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