Aurora closes $46 million deal with Harmonic
Aurora Networks has closed its $46 million deal to buy Harmonic’s Cable Access unit that was first announced on Feb. 19.
“With the closing of the acquisition behind us, we are now focused on a swift integration of the product lines into our systems with a goal of minimum customer inconvenience,” said Scott Weinstein, vice president, new business development, Aurora Networks. “We have already started the integration process, with many of the former Harmonic employees who will assist Aurora’s efforts to achieve an integration goal of four months joining our team. We firmly believe that this acquisition will increase our ability to innovate new technologies enabling us to continue to grow and provide our customers with solutions that will ensure their potential to meet future challenges.”
Harmonic’s Cable Access portfolio included optical transmitters, amplifiers, receivers and nodes. Aurora said the acquisition would increase its market share lead in the optical transport market by significantly increasing its installed base for next-generation service-providing products and create long-term strategic growth opportunities.
Back when the deal was announced , Harmonic said it was exiting the Cable Access space because it wasn’t a market leader in that area, and there was limited strategic synergy between Cable Access and the company's other higher-growth product lines. Instead, Harmonic is focusing its energies on the company’s Video Production and Playout, Video Processing, and Cable Edge product areas, where it claims to hold market share leadership.