Harmonic (HLIT) Enters Warrant Agreement with Comcast (CMCSA)

September 27, 2016 4:11 PM EDT

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Harmonic (NASDAQ: HLIT) today announced it has entered into a warrant agreement with Comcast Corporation (NASDAQ: CMCSA). The agreement provides Comcast with the opportunity to acquire shares of common stock of Harmonic based on specific CableOS™ and other Harmonic product sales and deployment milestones during the term of the warrant.

"This agreement is a significant validation of our new product investment strategy," said Patrick Harshman, Harmonic's President and CEO. "We are well positioned to further strengthen our partnership with Comcast, drive new growth and create value for our stockholders."

Harmonic will host a conference call at 6:00 a.m. Pacific (9:00 a.m. Eastern) on Wednesday, September 28, 2016. A listen-only broadcast of the conference call can be accessed either from the Company's website at www.harmonicinc.com or by calling +1.574.990.1032 or +1.800.240.9147 (passcode 89386483). The replay will be available after 8:00 a.m. Pacific at the same website address or by calling +1.404.537.3406 or +1.855.859.2056 (passcode 89386483).

Harmonic intends to discuss financial and other statistical information on this conference call

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