Video compression and cable infrastructure supplier Harmonic Inc announced Thursday that it has completed its acquisition of competitor Scopus Video Networks Limited for roughly $50 million in cash.
Harmonic bought Scopus for $5.62 per share in cash, which represents an enterprise value of approximately $50 million, net of Scopus' cash and short-term investments. The deal strengthens Harmonic’s position in broadcast contribution and distribution and increases its global customer base. Scopus' customers will be supported by the expanded regional Harmonic sales and support teams, and through channel partners.
Harmonic expects to achieve cost synergies of $8-10 million on an annualized basis once Scopus becomes fully integrated into the existing Harmonic organization and management structure.