Video-on-demand technology company SeaChange is to acquire VividLogic, a US-based company that provides software and services to cable TV operators, set-top manufacturers and consumer electronics suppliers.
VividLogics software products include tru2way, MHP and GEM-based IPTV operability for set-top box and CE manufacturers as well as in-home content protection.Â
SeaChange will pay US$12m (Â8.4m) for the company. In addition, VividLogic shareholders will be entitled to the working capital on its balance sheet prior to closing the deal, an amount estimated to be US$8.6m.Â Â
VividLogic revenues are estimated to be approximately US$7m for 2009 and it is expected to generate a small profit for the year.