Completion of Acquisition or Disposition of Assets · Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 2.01 Completion of an Acquisition or Disposition of Assets On June 16, 2026, Harmonic Inc. (the “Company”) completed the previously disclosed sale of its Video Business (the “Business”) pursuant to that certain Asset Purchase Agreement, dated March 20, 2026, (the “APA”) with Leone Media Inc. (d/b/a MediaKind) (the “Buyer”) for a purchase price of $145 million in cash (the “Acquisition”).…
Filed Jun 17, 2026Accepted Jun 17, 2026, 9:05 AM EDTCIK 851310Accession 0001193125-26-273457
Harmonic (Nasdaq: HLIT), the worldwide leader in virtualized broadband solutions, is transforming multi-gigabit connectivity. The company's industry-leading cOS™ virtualized broadband platform, suite of solutions for fiber and DOCSIS, and a growing portfolio of AI-powered network intelligence solutions, enable broadband service providers to simplify operations, deliver exceptional subscriber experiences and expand revenue streams. With thousands of vCMTS servers and hundreds of thousands of RPDs deployed globally, Harmonic powers next-generation broadband services with five-nines reliability. Anchored with a customer-first approach and driven by a legacy of innovation, Harmonic supports broadband service providers at every stage of their network evolution. More information is available at www.harmonicinc.com.
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Item 2.01Item 2.01 - Completion of Acquisition
Item 2.01 Completion of an Acquisition or Disposition of Assets
On June 16, 2026, Harmonic Inc. (the “Company”) completed the previously disclosed sale of its Video Business (the “Business”) pursuant to that certain Asset Purchase Agreement, dated March 20, 2026, (the “APA”) with Leone Media Inc. (d/b/a MediaKind) (the “Buyer”) for a purchase price of $145 million in cash (the “Acquisition”). The purchase price was subject to customary adjustments as set forth in the APA, including adjustments based on the net working capital of the Business, cash and indebtedness of the Business and the amount of specified selling expenses.
The APA includes certain representations, warranties and covenants, including an agreement of the Company not to compete with the Business for three years following the closing date of the Acquisition and indemnification provisions pursuant to which the Company and the Buyer agreed to indemnify each other for certain losses arising under the APA.
The above description of the APA is only a summary, does not purport to be complete and is qualified in its entirety by reference to the APA, a copy of which was filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on March 23, 2026. Such exhibit is incorporated herein by reference.
Attached as Exhibit 99.1 to this Current Report, and incorporated herein by this reference, is a copy of the Company’s press release dated June 16, 2026, announcing the completion of the Acquisition.
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
The Company announced today that Neven Haltmayer has resigned from his position of Senior Vice President and General Manager, Video Business, of the Company, effective June 16, 2026, in connection with the closing of the Acquisition. Mr. Haltmayer is retiring after 20 years of service at the Company.
Filed exhibits (1)
EX-99.1 (by filename) hlit-ex99_1.htm
EX-99.1
2
hlit-ex99_1.htm
EX-99.1
EX-99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
Harmonic Completes Divestiture of Video Business to MediaKind
Transaction Positions Harmonic as a Pure-Play Broadband Company
SAN JOSE, California, June 17, 2026 - Harmonic Inc. (Nasdaq: HLIT), the worldwide leader in virtualized broadband solutions, today announced the successful completion of the sale of its Video Business to MediaKind, a global leader in cloud-based video streaming technology, for $145 million in cash. The purchase consideration is subject to net working capital and other customary post-closing adjustments. The transaction marks a defining milestone in the company’s strategic transformation into a leading pure-play broadband innovator and underscores its commitment to maximizing lasting shareholder value.
The divestiture of the Video Business accelerates Harmonic's long-term growth strategy by concentrating the company's resources, capital and operational expertise on its virtualized broadband segment - the fastest-growing business within its portfolio. This transaction also delivers a significant capital infusion to Harmonic, strengthening the company’s balance sheet and prov…