Harmonic Inc.

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Harmonic Inc. is an American technology company that develops and markets video routing, server, and storage products for companies that produce, process, and distribute video content for television and the Internet. Harmonic was initially incorporated in California in June 1988 as Harmonic Lightwaves, and reincorporated into Delaware in May 1995. Anthony J. Ley became chief executive in November 1988 after the creation of the company by co-founders Moshe Nazarathy, and Josef Berger. Co-founder Moshe Nazarathy led a research and development center named "Harmonic Data" in Israel starting in 1993, funded in part by the Israel-U.S. Binational Industrial Research and Development Foundation. Harmonic acquired the DiviCom business of C-Cube Microsystems in 2000 for about $1.7 billion in stock. It acquired the video networking software business of Entone Technologies in 2006 for about $45 million, Rhozet Corporation in 2007, and Scopus Video Networks, Ltd. in 2009, for $5.62 per share in cash, which represents an enterprise value of approximately $50 million, net of Scopus’ cash and short-term investments. Omneon Video Networks was founded in May 1998, with investors including Advanced Technology Ventures, Norwest Venture Partners, Accel Partners and Invesco. Omneon co-founder Donald M. Craig designed products that won Technology & Engineering Emmy Awards in 1988 and 1996. On December 29, 2006 Omneon filed for an initial public offering, and tried again several times in 2007 and 2008 after dropping the "Video Networks" from its name, but remained private.