Harmonic Spikes Following Software License Deal With Comcast
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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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