Harmonic Shares Up After $145M Video-Division Sale

Dow Jones

Dec 09

By Terell Wright

Shares of Harmonic rose after the company said it agreed to sell its video-business segment to video-streaming-technology company MediaKind for about $145 million.

Shares climbed 7% to $10.37, though are down 21% year to date.

Harmonic Chief Executive Nimrod Ben-Natan on Monday said the sale will provide capital to increase investment in its fiber business and aid in the company's $200 million share-repurchase program. It will also simplify operations, he said.

"With the pending sale of the video business, we will no longer manage two distinct operational models," Ben-Natan said on an investor call Monday. "This will simplify our business and enable us to operate more effectively and with greater agility."

The San Jose, Calif., virtualized-broadband and video-delivery solutions company said the proposed transaction is expected to close in the first half of next year.

Write to Terell Wright at terell.wright@wsj.com

(END) Dow Jones Newswires

December 08, 2025 12:30 ET (17:30 GMT)

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