Thomson Video Networks has received a binding offer from Harmonic (NASDAQ:HLIT) to acquire 100% of Thomson Video Networks.
Thomson says the proposed transaction is consistent with its strategy, so Harmonic has been granted exclusivity by Thomson's shareholders while Harmonic secures financing for the proposed transaction.
The transaction is expected to close in Q1 2016, subject to French works council consultation process and the acceptance of Harmonic's acquisition offer by Thomson's shareholders, as well as receipt of regulatory approvals and other customary closing conditions.
