January 7, 2010
SeaChange Buys California Company For $12M
By Brandon Butler
SeaChange International Inc. of Acton announced it has purchased another software company, VividLogic Inc. of California.
SeaChange will pay $12 million in cash at closing for VividLogic.
VividLogic shareholders will also be entitled to working capital, which is estimated to be $8.6 million. $3.9 million of that will be paid at closing while $1.3 million will be paid out in May and August, while $2 million will be paid on the one year anniversary of the closing.
SeaChange provides software and hardware for video-on-demand television while VididLogic provides software and services to cable providers and set-top box manufacturers.
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