Acton Firm Pays $36.6M For Dutch Co.
Acton-based video software and hardware maker SeaChange International Inc. has acquired eventIS Group BV of the Netherlands for $36.6 million.
In addition to the initial payment, SeaChange must pay $1.7 million in cash to former eventIS shareholders on each of the first three anniversaries of the acquisition. Also on those anniversary dates, SeaChange will issue shares of restricted stock worth about $1.1 million to former eventIS shareholders.
The Dutch company is privately held and specializes in software for video-on-demand, broadcast and cable television and telecommunications. It serves Europe primarily and has 70 employees.
SeaChange said eventIS had revenue of about $13 million and was profitable in 2008.
For the second quarter, SeaChange reported a profit of $998,000 on revenue of $49 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments