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[HARMONIC LOGO]
FOR IMMEDIATE RELEASE
CONTACTS:
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Robin N. Dickson Joyce Smaragdis Michael Newman
Chief Financial Officer Public Relations Manager Investor Relations
Harmonic Inc. Harmonic Inc. StreetConnect
(408) 542-2500 (408) 542-2692 (408) 542-2760
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HARMONIC COMPLETES ACQUISITION OF THE DIVICOM BUSINESS OF
C-CUBE MICROSYSTEMS INC.
SUNNYVALE, CA - May 3, 2000 - Harmonic Inc. (Nasdaq: HLIT) announced it has
completed its acquisition of the DiviCom business of C-Cube Microsystems Inc.
today. This acquisition was effected through the merger of Harmonic with C-Cube
Microsystems after the spin off of C-Cube Microsystems' semiconductor business
yesterday. Harmonic, including the DiviCom business, will provide open-systems
solutions for delivering video, voice and data over cable, satellite, telco and
wireless networks.
C-Cube Microsystems stockholders received 0.5427 shares of Harmonic common
stock for each share of C-Cube Microsystems common stock they owned as of March
22, 2000. C-Cube Microsystems stockholders also received shares of the
semiconductor business in the spin-off effected yesterday.
"Harmonic is strongly positioned to enable broadband communications over any
network," said Anthony Ley, Harmonic's Chairman, President and Chief Executive
Officer. "We are now offering the most advanced fiber optic, digital video, and
IP data delivery solutions available in the market. With a strong commitment to
innovation and open-standard system solutions, Harmonic will be a key force in
bringing about a new era in interactive communications."
ABOUT HARMONIC INC.
Harmonic is a leading provider of innovative broadband solutions that deliver
video, voice and data to communications providers around the world. Harmonic's
technically advanced fiber optic, digital video and IP data delivery systems
enable network operators to provide a range of interactive and advanced digital
services that include high-speed Internet access, telephony, digital video,
HDTV, video & audio
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streaming, and video-on-demand.
Headquartered in Sunnyvale, Calif., Harmonic employs approximately 950 people
and operates more than 15 R&D and sales & system integration centers globally.
Harmonic had revenues of approximately $370 million in 1999 (on a proforma
basis) to a customer base that includes the world's largest communications
providers. Harmonic's stock is traded on the Nasdaq stock market under the
symbol "HLIT." For more information, check the company's website at
www.harmonicinc.com.
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This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Actual results could differ materially from those
projected in the forward-looking statements as a result of the risk factors
set forth in the company's Forms 10-K and 10-Q reports and other filings of
the company with the Securities and Exchange Commission. The reader is
cautioned not to put undue reliance on these forward-looking statements,
which are not a guarantee of future performance.
Harmonic is a registered trademark of Harmonic Inc. All other trademarks or
registered trademarks are property of their respective owners.
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