Harmonic has completed the acquisition of Scopus Video Networks for $5.62 per share in cash, which represents an enterprise value of approximately $50 million, net of Scopus’ cash and short-term investments. The acquisition is intended to strengthen Harmonic’s technology and market position, particularly in the broadcast contribution and distribution markets, in addition to increasing its global customer base. Scopus’ customers will be supported by the expanded regional Harmonic sales and support teams, and through channel partners.

Harmonic continues to expect cost synergies of $8-10 million on an annualized basis once Scopus becomes fully integrated into the existing Harmonic organization and management structure. The transaction is expected to be accretive to Harmonic’s non-GAAP earnings in 2009, exclusive of the amortization of intangibles and non-recurring charges such as restructuring and transaction costs. Harmonic will determine the appropriate purchase accounting for the transaction upon closing its first quarter of 2009.

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