SeaChange Acquires Dutch VOD Firm For $36.6 Mln
Stock quotes in this article:
SEAC
ACTON, Mass. (AP) SeaChange International Inc., which provides hardware and software enabling video on demand TV, on Tuesday said it has acquired Dutch company eventIS Group B.V. for $36.6 million plus cash and stock to shareholders for three years.
Acton, Mass.-based SeaChange said Eindhoven, Netherlands-based eventIS provides video on demand and broadcast software and services to cable TV and telecom companies mainly in Europe. The privately held Dutch company had $13 million in revenue last year. SeaChange is obligated to pay $1.7 million in cash to former eventIS shareholders and issue $1.1 million in restricted stock annually for three years. Shares of SeaChange fell 8 cents to $8.86 in afternoon trading.- Loading Comments...
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