Taylor Wessing advises Harmonic Inc. on its £4m acquisition of UK-based Broadcast Technology Limited

Taylor Wessing has advised Nasdaq quoted Harmonic Inc., a US-based leader in digital video systems and broadband optical networking, on its acquisition of UK-based Broadcast Technology Limited, a provider of professional video/audio receivers and decoders.  The acquisition will enable the enlarged Harmonic group to expand the scope of solutions which it currently provides for existing and emerging cable, satellite and terrestrial broadcast and telecom applications.

The £4 million consideration was satisfied partly in cash (£3 million), and partly by the issue of new Harmonic Inc. shares (£1 million).

Robin Dickson, CFO at Harmonic Inc. commented:

"We are very pleased to have completed this UK acquisition, which will expand the systems solutions available from our Convergent Systems division and make a significant contribution to our European activities.  Taylor Wessing has represented Harmonic since its initial expansion into Europe and we have always been impressed by TW's pragmatic approach, service excellence and transactional expertise."

Paul Webb, Corporate partner at Taylor Wessing commented:

"Having acted for Harmonic over a period of eight years, we were delighted to represent the company in relation to this significant expansion of its European operations."

The Taylor Wessing team comprised Paul Webb, Matt Stratton and Mark Barron (corporate), Elizabeth Small (tax), Cyrille West (real estate), Gemma Lane and Paul Callaghan (employment) and Mark Smith (pensions).  Harmonic Inc. was also represented by US firm Wilson Sonsini.  Broadcast Technology Limited was advised by Moore and Blatch in Southampton.