Harmonic Converging on Tech Buys

Author:
Publish date:
Updated on

Sunnyvale, Calif. -- Harmonic Lightwaves Inc. is shortening
its name and looking for possible acquisition targets -- two moves that the company said
underline a broadening long-term corporate strategy.

The maker of digital and fiber optic video, voice and
data-delivery systems has changed its official handle to Harmonic Inc., partly to focus
attention on its marketing of relatively new services such as network-management and
Internet-protocol-telephony solutions to complement its core technologies.

"If you look at the way that cable networks have
evolved, redefining networks is what we're doing today," said Colin Boyd,
Harmonic's vice president of North American sales and worldwide marketing.

"People in the marketplace recognize that this is a
good fiber optic company, but it's not really known as a communications-systems
supplier," Boyd added.

Harmonic could fill gaps in its current products and
services lineup through acquisitions, although none is in the works currently, Boyd said.

Harmonic also plans a secondary offering of 2.8 million
common shares, including 720,000 shares that Scientific-Atlanta Inc. will offer after
exercising a warrant.

Harmonic will use proceeds from the sale of its shares for
debt repayment and other general corporate purposes.

Related