SeaChange Buys EventIS for $45M

9/1/09

SeaChange International, an Acton, MA-based provider of technology for video-on-demand television, said today that it has acquired its Dutch counterpart EventIS Group in a deal valued at $45 million. The deal also includes additional performance-based payments to EventIS shareholders that depend on certain annual sales goals for SeaChange (NASDAQ:SEAC) and EventIS products and services through Jan. 31, 2013, according to a press release. EventIS had about $13 million in 2008 revenue.

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