Harmonic Inc. (HLIT) announced it has completed the previously disclosed sale of its Video Business to Leone Media Inc., which operates as MediaKind. The all-cash transaction was finalized on June 16, 2026, for a purchase price of $145 million, subject to customary adjustments.
Key Details
- Transaction: Sale of the company's Video Business unit.
- Buyer: Leone Media Inc. (d/b/a MediaKind).
- Purchase Price: $145 million in cash, subject to adjustments for net working capital, cash, indebtedness, and certain selling expenses.
- Closing Date: June 16, 2026.
- Agreement Terms: The deal includes a three-year non-compete agreement binding Harmonic Inc. in relation to the sold business.
- Management Change: In connection with the sale, Neven Haltmayer, Senior Vice President and General Manager of the Video Business, has resigned effective June 16, 2026, and is retiring after 20 years of service.