SeaChange will pay $25.5 million for the international assets of Liberate Technologies —a move that appears designed to improve its product offerings to digital cable network operators.
The acquisition gives the company VOD specialist applications to help cable companies run multiple services — including HDTV and personal video recorders — on multiple platforms, InternetNews.com reported.
SeaChange will also receive a cache of patents and other intellectual property, as well as European customers NTL, Telewest and UGC. SeaChange will hire 20 Liberate engineers and field support technicians in San Mateo, CA, and London.
The deal requires the approval of Liberate shareholders and is expected to close in June or July. Liberate chairman and CEO David Lockwood, who owns 12 percent of outstanding Liberate shares, has already committed his stake to the deal.