Harmonic Inc. entered into an Asset Purchase Agreement dated March 20, 2026, with Leone Media Inc. following exercise of a put option, for the sale of its Video Business for $145 million in cash subject to adjustments. The transaction is subject to regulatory approvals and customary conditions, with closing expected in Q2 2026.
Key takeaways
Executed Asset Purchase Agreement on March 20, 2026, with Leone Media Inc. (d/b/a MediaKind)
Sale of Video Business for $145 million cash, adjustable for net working capital, cash, debt, and selling expenses
Put Option Agreement dated December 8, 2025; exercised March 16, 2026 after French works council completion on March 12, 2026
Closing conditions include customary regulatory approvals; expected Q2 2026
Termination right if not closed by June 8, 2026, extendable to September 8, 2026
Company agrees to 3-year non-compete post-closing; mutual indemnification