Shares in Harmonic (NASDAQ: HLIT) were positive in the first hour Monday. The company, purporting to be the worldwide leader in virtualized broadband and video delivery solutions, today announced it has received a binding offer from MediaKind, a global leader in cloud-based video streaming technology, to acquire its Video Business segment for approximately $145 million in cash.
The transaction, which is expected to close in the first half of 2026, is subject to a French employee works council consultation process and customary closing conditions and regulatory approvals.
The proposed transaction would accelerate Harmonic's long-term strategy by sharpening its focus on growth priorities in its industry-leading virtualized Broadband business. Additionally, this divestiture would deliver a healthy capital infusion and further bolster Harmonic's balance sheet, providing the financial flexibility to better serve its expanding customer base and build shareholder value.
"This strategic transaction will, if completed, advance the growth strategies of both companies," said Harmonic CEO Nimrod Ben-Natan. "It would allow Harmonic to zero in on its core Broadband segment, while ensuring the Video Business, its customers and dedicated employees become part of an organization committed to the future of video delivery."
HLIT shares soared 80 cents, or 8.2%, to $10.48.
