Harmonic completes Cable Access HFC sale
Video delivery infrastructure specialist Harmonic Inc. has completed the sale of its Cable Access HFC business to Aurora Networks, Inc. for $46 million in cash. Harmonic announced its agreement to sell the business to Aurora Networks on 19 February.
Commenting on the deal when it was originally announced, Harmonic president and CEO Patrick Harshman remarked: “The sale of the Cable Access business enables us to sharpen our focus on our largest growth opportunities. Cable Access was Harmonic’s lowest margin product line, and through this transaction and the increase in our authorised share repurchase programme, we will continue to drive growth in our core markets, expand our gross margin, reduce our outstanding shares, and position our business for stronger long-term earnings.”