[Satnews] Statement from Thomson: 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.