Harmonic Completes Acquisition of Omneon

Harmonic has completed the acquisition of Omneon, a provider of video production and playout solutions, for aggregate consideration of approximately $194 million in cash and approximately 17.1 million shares of its common stock. This represents an enterprise value of approximately $273 million, based on the value of Harmonic’s common stock as set forth in the definitive acquisition agreement and net of Omneon’s cash balances.

“In combination with Omneon, we expect to deepen our relationships with global media companies, enabling them to create, package and deliver the next generation of video-centric media services,” said Patrick Harshman, president and CEO of Harmonic, in a statement.