Harmonic has finalised its $274 million (€215.53 million) acquisition of the video production and playout solutions provider Omneon. The purchase was initially anticipated to have completed in the summer and just makes it into Q3.
“By bringing together a powerful range of market-leading technologies that span content contribution through delivery, and leveraging strong relationships with content producers and service providers around the globe, Harmonic is now uniquely positioned as a global leader in video infrastructure for the digital media industry,” said Patrick Harshman, President and CEO of Harmonic. “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.”
The acquisition is not expected to have an immediate benefit to Harmonic’s sales revenues, but is anticipated to contribute from 2011.