Harmonic Completes Divestiture of Video Business to MediaKind

Harmonic Inc., a US corporation listed on NASDAQ and the worldwide leader in virtualized broadband solutions, recently announced the successful completion of the sale of its Video Business to MediaKind, a global leader in cloud-based video streaming technology. The transaction has a value of $145 million, paid entirely in cash. The transaction is a pivotal moment for Harmonic, as it positions the company as a Pure-Play Broadband entity. The transaction contemplated the multi-jurisdictions carve-out of all video business from the Harmonic group, prior to the sale of said activities to MediaKind.

Lenz & Stahelin advised Harmonic on Swiss law aspects of this transaction, together with Wilson Sonsini Goodrich & Rosati (US law and international aspects) and KPMG (financial and tax advisors). The Lenz & Staehelin team was led by Jacques Iffland and Pierrick Sunier and included partner Floran Ponce, as well as associates Victoria Kinson, Vera Waldburger and Alexandra Vraca.