SeaChange International, Inc., is a developer, manufacturer and marketer of digital video systems and services to cable system operators, telecommunications companies and broadcast television companies.
SeaChange (SEAC), a provider of video-on-demand solutions for cable providers, is selling its media services subsidiary to Avail-TVN for $27M in cash. SeaChange says the deal is part of its efforts to transform "into a pure-play software company." Shares +1.5% AH. (PR)
SeaChange (SEAC) responds to reports that it's in talks to be bought out by Arris (ARRS), with a vague: "As we have previously announced... the committee is continuing to evaluate a range of strategic options for the company." Shares were +21% in AH trading.
Communications equipment maker Arris (ARRS) is in talks to buy SeaChange International (SEAC), a maker of digital video gear, WSJ reports. TiVo (TIVO) and NDS Group, a technology provider for pay-TV operators owned by News Corp. (NWS) and buyout firm Permira, also reportedly considered buying SEAC but have lost interest.