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SeaChange acquires VividLogic

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.

VividLogic’s software products include tru2way, MHP and GEM-based IPTV operability for set-top box and CE manufacturers as well as in-home content protection. 

SeaChange will pay US$12m (€8.4m) 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.  

VividLogic revenues are estimated to be approximately US$7m for 2009 and it is expected to generate a small profit for the year.