Comcast Agrees to Buy Harmonic Shares in Warrant Agreement
September 27 2016 - 5:38PM
Dow Jones News
By Josh Beckerman
Harmonic Inc. (HLIT), which provides video infrastructure
technology, said Comcast Corp. (CMCSA) has agreed to buy Harmonic
shares under a warrant agreement.
Vesting of the stock will be based on steps including successful
field trials and Comcast payments for Harmonic technology such as
CableOS software.
Comcast may purchase up to 7.8 million shares. In after-hours
trading, Harmonic shares rose 4% to $4.85.
Harmonic said it is "well positioned to further strengthen our
partnership with Comcast."
Earlier Tuesday, Harmonic said a new CableOS system is now in
trials at multiple cable systems, with commercial deployments
expected to start in the fourth quarter.
In February, San Jose-based Harmonic bought video compression
company Thomson Video Networks. In August, Harmonic said its
second-quarter net loss widened on higher costs, while revenue rose
to $108.8 million from $103.1 million and the company reported a
record backlog.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 27, 2016 17:23 ET (21:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Comcast (NASDAQ:CMCSA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Comcast (NASDAQ:CMCSA)
Historical Stock Chart
From Apr 2023 to Apr 2024
