Arris is in talks to acquire SeaChange International (Nasdaq: SEAC), according to the Wall Street Journal which reported that "people familiar with the matter" said the talks have been going on and off for the past several months.
The report also said that TiVo (Nasdaq: TIVO) and News Corp.'s (Nasdaq: NWSA) NDS had also been in the running to buy the VoD vendor but "have lost interest now." Arris and NDS declined to comment to the paper but SeaChange issued a statement from Chairman-CEO William Styslinger that said a company-backed independent advisory committee is working with financial advisors Blackstone Advisory Partners and Evercore Group "to evaluate a range of strategic options for the Company. Its work is ongoing and the Company will inform investors if there are material developments to report."
SeaChange could potentially fill a video-on-demand hole in the Arris' product line, although aside from VoD there are multiple similarities between the two companies on a range of other cable TV-related products. SeaChange had been under fire from disgruntled investor Ramius, which owns about 7 percent of the company's shares and is looking to "explore strategic alternatives," the story said.
For more:
- the Wall Street Journal has this story
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