Harmonic (HLIT) Completes Acquisition of Scopus Video Networks (SCOP)
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Scopus Video Networks Ltd. (NASDAQ: SCOP) announced that it has completed its previously announced sale pursuant to the Agreement and Plan of Merger, dated as of December 22, 2008, by and among Harmonic Inc., a Delaware corporation (NASDAQ: HLIT), Sunrise Acquisition Ltd., an Israeli company and a wholly owned subsidiary of Harmonic, and Scopus, under which Scopus has been acquired by Harmonic through a merger of Sunrise Acquisition Ltd. with and into Scopus.
Under the terms of the merger agreement, which was approved by approximately 90% of the outstanding shares of Scopus voting at a special meeting held on February 6, 2009, each ordinary share of Scopus issued and outstanding as of today has been automatically converted into the right to receive US$5.62 in cash (subject to applicable withholding taxes).
Harmonic Inc. (Harmonic) is engaged in designing, manufacturing and selling video products and system solutions that enable service providers to deliver the broadcast and on-demand services, including high-definition television (HDTV), video-on-demand (VOD) and time-shifted television.
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