Video solutions specialist SeaChange International has announced that, with the acquisition of Layer3 TV by T-Mobile, it had monetised its ownership stake. The initial payment of approximately $4.6 million has been received by the Company, with an additional payment of approximately $2.1 million being held in escrow, subject to the satisfaction of sale provisions.

“We are very pleased that we have realized a significant return on our investment in Layer3 TV.  The proceeds from this investment will further strengthen our cash position and balance sheet and provide additional support for our efforts to continue to improve SeaChange’s financial performance,” said Ed Terino, SeaChange CEO.

Other posts by :

1. Safran Space links laser direct to satellite
2. SpaceX fearful of AST SpaceMobile’s potential?
3. Equatys wants 2,800 new satellites
4. FCC eyes freeing up Weird Space Stuff spectrum
5. SES happy with releasing 160MHz of spectrum for 5G
6. Inmarsat “likely to win appeal” over Ligado/AST action
7. FCC seeks fair play over foreign satellite access
8. Bank raises RocketLab target price
9. Paramount throws kitchen sink

Categories: Articles, Business