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SAN JOSE, Calif. - Harmonic (NASDAQ: HLIT), a $1.3 billion market cap provider of video delivery solutions with a healthy 51.92% gross profit margin, has announced the qualification of its VOS360 Media SaaS and VOS360 Ad SaaS on Akamai (NASDAQ:AKAM)’s cloud platform. The collaboration aims to enhance the efficiency of playout, broadcast, and video streaming workflows for media companies worldwide. According to InvestingPro analysis, Harmonic maintains a GOOD financial health score, suggesting strong operational stability.
The partnership leverages Akamai’s cloud computing, security, and content delivery capabilities, with Harmonic’s solutions offering media companies increased control over their workflows. This integration is expected to streamline viewing experiences and facilitate new business growth opportunities while reducing operational costs. Trading at a P/E ratio of 14.93, Harmonic shows promising market positioning. InvestingPro subscribers can access detailed financial analysis and 6 additional ProTips about Harmonic’s market position and growth potential.
Dan Lawrence, vice president of cloud computing at Akamai, highlighted the benefits of the collaboration, stating that it allows media and entertainment companies to gain more control and unlock new avenues for business growth. Harmonic’s VOS360 Media SaaS simplifies media processing and delivery for premium video streaming and broadcast services, and its VOS360 Ad SaaS provides a complete workflow for personalized ad delivery.
The upcoming Akamai Media Services Live 5 suite, powered by Harmonic’s VOS360 Media, is designed to deliver a high-quality viewing experience for 24/7 live linear services. The SaaS solutions utilize Akamai’s edge and cloud platform to ensure reliable and secure delivery of content.
Gil Rudge, senior vice president at Harmonic, emphasized the agility, resiliency, security, and scalability provided by the company’s award-winning solutions on cloud platforms like Akamai Cloud. He mentioned that the collaboration is part of Harmonic’s strategy to empower media companies to accelerate service deployment and explore new revenue-generating use cases.
Harmonic will showcase its cloud solutions at the 2025 NAB Show, scheduled from April 6-9 in Las Vegas. The company continues to focus on enabling high-quality video streaming and broadcast services for consumers globally. This announcement is based on a press release statement from Harmonic.
In other recent news, Harmonic Inc (NASDAQ:HLIT). has been the subject of several noteworthy developments. Barclays (LON:BARC) has downgraded Harmonic’s stock rating from "Overweight" to "Equalweight" and reduced the price target to $14, citing anticipated challenges in the company’s Broadband business. This adjustment comes in response to issues with amplifier supply and a reevaluation of Unified 4.0 deployment plans.
In a financial strategy update, Harmonic expanded its credit facilities to $200 million. This was achieved through an amendment to its credit agreement, increasing its revolving credit commitments by $40 million. The additional capital could potentially be used for various corporate purposes, including growth initiatives.
The company also announced the resignation of Mitzi Reaugh from its Board of Directors, marking another change in the board’s composition. The decision was made to allow Reaugh to focus on other professional commitments. Following her departure, the board will consist of eight directors, seven of whom are independent.
Investment firms Romanesque Capital Management and Ancora Holdings Group have both made public statements advocating for a strategic review of Harmonic. Romanesque Capital supports the sale of the company to maximize shareholder value, while Ancora urges Harmonic to explore strategic alternatives, including a potential sale. Both firms believe that such moves could unlock significant value for shareholders.
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