SeaChange sheds broadcast server, storage business

ACTON, MA – SeaChange is selling off its broadcast server and storage business, a move that it says will allow it to focus on its core software and services operations which include next generation back office, video streamers, gateway software and advertising solutions. Financial terms of the deal were not disclosed. The sale, announced Wednesday, is to a group of financial investors led by an unnamed US-based venture firm. The new, independent company will be named XOR Media. "This divestiture is an important part of our strategy to transform SeaChange into a pure play software company, significantly reduce our overall...