SUWANEE, GA and ACTON, MA – Broadband communications supplier Arris Group is said to be in discussions that could lead to a purchase of multiscreen video specialist SeaChange International, according to a report in the Wall Street Journal.
However, SeaChange chairman and CEO William Styslinger issued a statement in response to the report where he declined to confirm that such talks were taking place.
“As we have previously announced, the Board of Directors has formed an independent advisory committee to work with management and the Board to advise and support them in a wide range of business development and other initiatives” Styslinger said in a statement. “Together with our financial advisors, Blackstone Advisory Partners, LP and Evercore Group L.L.C., the committee is continuing to evaluate a range of strategic options for the Company. Its work is ongoing and the Company will inform investors if there are material developments to report.”
SeaChange has recently made efforts to reduce costs in its hardware business amid a declining market for servers and storage.
