Enghouse Completes Acquisition of SeaChange

Enghouse Expands Scale of Its IPTV Business

MARKHAM, ON, May 9, 2024/CNW/ - Enghouse SystemsLimited (TSX: ENGH) today announced it has successfully completed its acquisition of substantially all of the assets of SeaChange International, Inc. ("Seachange") related to its IPTV products and services business, for a purchase price of approximately US$ 23 million (after the deduction of SeaChange's cash and cash equivalents at the closing date). SeaChange's annual revenues are currently expected to be approximately US$ 18 million (reflecting adjustments for the recent completion of a large low margin custom contract, the end of life of one of SeaChange's products and certain other customer attritions).