Harmonic (HLIT) is selling its Cable Access business, its "lowest margin product line," to...

|About: Harmonic Inc. (HLIT)|By:, SA News Editor

Harmonic (HLIT) is selling its Cable Access business, its "lowest margin product line," to Aurora Networks for $46M in cash, and will use the proceeds to boost its share buyback plan by ~$35M. The deal allows HLIT to "continue to drive growth in our core markets, expand our gross margin, reduce our outstanding shares, and position our business for stronger long-term earnings." (PR)