Harmonic is to sell its Cable Access business to Aurora Networks in a $46 million (€34m) cash deal.
The Cable Access portfolio includes optical transmitters, amplifiers, receivers and nodes.
“The sale of the Cable Access business enables us to sharpen our focus on our largest growth opportunities,” said Patrick Harshman, Harmonic’s president and chief executive officer. “Cable Access was Harmonic’s lowest margin product line, and through this transaction and the increase in our authorized share repurchase program, we will continue to drive growth in our core markets, expand our gross margin, reduce our outstanding shares, and position our business for stronger long-term earnings.”
Following the divestiture, Harmonic will continue to concentrate on the Video Production and Playout, Video Processing, and Cable Edge product areas, where it currently holds market share leadership.
