Harmonic Finalises Sale Of Video Business To MediaKind

Harmonic Inc (NASDAQ: HLIT) has completed the divestiture of its Video Business to MediaKind for $145 million in cash, subject to net working capital and other customary post-closing adjustments. The move, announced on 17 June 2026, is a key step in Harmonic's transformation into a pure-play broadband company and is intended to enhance long-term shareholder value.

Harmonic said the transaction accelerates its strategy by concentrating resources, capital and operational expertise on its virtualised broadband segment, the fastest-growing part of the portfolio. Proceeds from the sale bolster the balance sheet and provide added flexibility to invest in innovation, expand the customer base and pursue growth opportunities across the broadband market.

"The completion of this transaction is a pivotal moment for Harmonic," said Nimrod Ben-Natan, President and Chief Executive Officer of Harmonic. "We now turn our full focus and capital toward broadband, where our established footprint with the world's largest operators positions us as a leader in the industry's shift to virtualized software-defined broadband networks powered by intelligence capabilities. We are proud of the exceptional work our Video Business has accomplished and are confident they will continue to deliver the same innovation and dedication as a part of MediaKind."

The company also plans to host an Investor Day in New York City on 15 September 2026. The hybrid event will feature limited in-person attendance by invitation and a live webcast via Harmonic's Investor Relations website, with additional details to follow closer to the date.

Harmonic remains the market share leader in cable broadband equipment, virtual CMTS and distributed access architecture (DAA), according to the Dell'Oro Group. Its cOS platform underpins next-generation broadband services delivered through nearly 46 million CPE devices for leading operators in North America, Europe, Latin America and Asia. More information is available at www.harmonicinc.com.

Harmonic noted that certain statements regarding the expected benefits of the divestiture, planned investments, customer expansion, growth initiatives and the forthcoming Investor Day are forward-looking and subject to risks and uncertainties. These include the company's ability to execute its strategies post-divestiture and the potential for post-closing purchase price adjustments, as well as other risks detailed in filings with the U.S. Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended 31 December 2025, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Harmonic does not undertake to update forward-looking statements.