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Print Edition StoriesThursday, January 7, 2010
SeaChange buys VividLogic for $12M
By Mass High Tech staff
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Video technology company SeaChange International Inc. has acquired for California-based VividLogic Inc. for $12 million in cash.
VividLogic is a software and service provider for consumer electronics suppliers, set-top box manufacturers and cable television service providers. The Acton-based software and hardware provider for video-on-demand television expects the new acquisition to help it meet the home IP-delivery market.
As part of the buyout deal, SeaChange must pay $1 million in cash annually to VividLogic shareholders for the next three years. The performance metrics associated with VividLogic over the next three years, ending January 31, 2013, will result in shareholder payouts included in the $12 million acquisition price.
The deal also calls for VividLogic shareholders’ entitlement to the company’s $8.6 million in working capital to be paid out at specified times.
More about SeaChange
SeaChange announced in September that it had paid $36.6 million for Dutch firm eventIS Group BV, a privately owned company that provides video-on-demand (VOD) and broadcast software to European cable television and telecommunication companies.
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