SeaChange to Sell Broadcast/Storage Biz

SeaChange International has signed a definitive agreement to sell its broadcast server and storage business, allowing the company to focus on its core software and services operations, including its next generation back office, video streamers, gateway software and advertising solutions.The sale to a group of financial investors is expected to close after customary regulatory approvals. The new, independent company will be named XOR Media.As a result of the change in business, SeaChange will be able to offer server and storage products from any company, including XOR Media, as part of its intelligent video platform. SeaChange will continue to provide customer service and support to all of its VOD streaming service provider customers, and will also provide customer service and support to any customers who purchase storage products as part of its reseller agreement with XOR Media.