Harmonic Spikes Following Software License Deal With Comcast

Comcast Cable will pay $175 million for software license fees over a four-year term.
By Tony Owusu ,

Shares of video infrastructure and systems solutions provider Harmonic (HLIT) - Get Report  were rising more than 26% Wednesday to $7.55 after the company announced a new licensing deal with Comcast  (CMCSA) - Get Report  affiliate Comcast Cable Communications Management. 

Comcast committed to $175 million in software license fees over a four-year term, with Comcast paying an initial $50 million payment this year. 

Harmonic's cable access segment offers cable operating system software-based cable access solutions as well as technical support and maintenance services. 

Shares of Harmonic already have had a successful year. The jump Wednesday has pushed gains for the year so far to more than 60%.

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