HLIT · Harmonic Inc.

Harmonic Inc. completed the divestiture of its Video Business to MediaKind, a cloud-based video streaming technology leader, for $145 million in cash. This transaction marks a strategic pivot for Harmonic, transforming it into a pure-play broadband company focused on virtualized software-defined broadband solutions. The company had previously reported the Video Business as discontinued operations. The purchase price is subject to net working capital and other customary post-closing adjustments. Alongside the closing, Neven Haltmayer, the Senior Vice President and General Manager of the Video Business, resigned effective June 16, 2026, retiring after 20 years of service. Harmonic's management, led by CEO Nimrod Ben-Natan, emphasized that the divestiture accelerates their growth strategy by concentrating resources on broadband, where they hold a leading market position. The cash infusion strengthens the balance sheet and provides flexibility for innovation and expansion. Harmonic also announced an Investor Day on September 15, 2026, to detail its core technologies and growth outlook. The transaction includes a three-year non-compete agreement and standard indemnification provisions. Overall, this event is highly material as it reshapes Harmonic's business profile and capital structure.