Sony Digital Rapids Pixel Power calrec Sony

SeaChange Reaches Cooperation Agreement with Largest Shareholder, TAR Holdings

02/03/2019

SeaChange Reaches Cooperation Agreement with Largest Shareholder, TAR Holdings

March 1st, 2019

Appoints Robert Pons and Jeff Tuder to Board of Directors

ACTON, Mass., March 1, 2019 Video delivery platform leader SeaChange International (NASDAQ: SEAC) today announced that the Company's Board of Directors has appointed Robert M. Pons and Jeffrey M. Tuder to the Company's Board of Directors, effective immediately. Mr. Pons will serve as a Class II director and will stand for election at 2019 Annual Meeting of Shareholders; Mr. Tuder will serve as a Class III director and will stand for election at the 2020 Annual Meeting of Shareholders.

In conjunction with today's actions, the Company has entered into a cooperation agreement with Karen Singer and TAR Holdings LLC (together, TAR Holdings ), the Company's largest shareholder, which owns approximately 20% of the Company's common stock. In the course of discussions with TAR Holdings, the Board considered and thoroughly vetted a number of qualified director candidates.

We welcome Robert and Jeffrey to the SeaChange Board of Directors, said William Markey, Chairman of the SeaChange Board. Robert and Jeffrey bring extensive technology, telecom, operational and strategic expertise, particularly with companies of our size, that complements the experiences of our incumbent directors. We are pleased to have worked constructively with TAR Holdings to achieve this outcome and avoid a costly proxy fight. We look forward to benefitting from Robert's and Jeffrey's experiences as SeaChange continues to focus on executing its plan to drive profitable growth and deliver long-term value for all of its shareholders.

We welcome the addition of these two new highly qualified independent directors. As the Company's largest shareholder, we invested in SeaChange because we believe there is potential to unlock shareholder value through future growth and improved profitability. We are pleased to have worked constructively with the Board to reach an agreement that will help put the Company back on the right path towards shareholder value creation. We look forward to continued engagement with the Company to face the challenges and opportunities ahead as we pursue our common goal of enhancing shareholder value, said Julian Singer of TAR Holdings.

As part of the agreement, TAR Holdings have agreed to abide by certain customary standstill provisions and to support the SeaChange Board's nominees at the 2019 Annual Meeting. The complete agreement will be included as an exhibit to a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission.

About Robert M. Pons

Robert M. Pons has more than 30 years of senior level management and Board experience including early stage ventures and middle market companies. He currently serves as President and CEO of Spartan Advisors Inc., a management consulting firm specializing in telecom and technology companies, and serves on the boards of Inseego Corp. and Alaska Communications Inc. Mr. Pons received a B.A. degree with honors from Rowan University.

About Jeffrey M. Tuder

Jeffrey M. Tuder has more than 20 years of investment experience across multiple asset classes including private and public equity, private and public credit, and venture capital across multiple industries and through economic cycles. Mr. Tuder is currently the Managing Member of Tremson Capital Management, LLC, a private investment firm focused on identifying and investing in securities of undervalued publicly traded companies. Mr. Tuder is also a Partner at Ambina Partners, a private investment firm focused on private equity and special situations credit investments, and serves on the board of Inseego Corp. Mr. Tuder received a B.A. degree from Yale University.

About SeaChange International

For 25 years, SeaChange (Nasdaq: SEAC) has pioneered innovative solutions to help video providers around the world manage and monetize their content. As the video industry rapidly evolves to meet the anytime, anywhere demands of today's viewers, SeaChange's comprehensive content, business, viewer experience and advertising management solutions provide a mature, network-agnostic, cloud-enabled platform of scalable core capabilities that video service providers, broadcasters, content owners and brand advertisers need to create the personalized, indivisual experiences that drive viewer engagement and monetization. For more information, please visit www.seachange.com.

Safe Harbor Provision

Any statements contained in this press release that do not describe historical facts, including future operations, are neither promises nor guarantees and may constitute forward-looking statements as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include words such as may, might, will, should, expects, plans, anticipates, believes, estimates, predicts, potential or continue, the negative of these terms and other comparable terminology. Any such forward-looking statements contained herein are based on current assumptions, estimates and expectations, but are subject to a number of known and unknown risks and significant business, economic and competitive uncertainties that may cause actual results to differ materially from expectations. Numerous factors could cause actual future results to differ materially from current expectations expressed or implied by such forward-looking statements, including the risks and other risk factors detailed in various publicly available documents filed by the Company from time to time with the Securities and Exchange Commission (SEC), which are available at www.sec.gov, including but not limited to, such information appearing under the caption Risk Factors in the Company&
LINK: https://www.seachange.com/news/seachange-reaches-cooperation-agreement...
See more stories from schange

More from SeaChange

08/04/2019

SeaChange Strengthens Leadership Team

SeaChange Strengthens Leadership Team ACTON, Mass., April 5, 2019 -SeaChange International, Inc. (NASDAQ: SEAC), a leader in video delivery platforms, today an...

28/03/2019

SeaChange International to Issue Fiscal 2019 Fourth Quarter Results on April 10, 2019

SeaChange International to Issue Fiscal 2019 Fourth Quarter Results on April 10,...

11/03/2019

SeaChange Adopts Tax Benefits Preservation Plan to Protect Tax Assets

SeaChange Adopts Tax Benefits Preservation Plan to Protect Tax Assets March 11th, 2019 Shareholders to Vote on Tax Benefits Preservation Plan at 2019 Annual ...

02/03/2019

SeaChange Reaches Cooperation Agreement with Largest Shareholder, TAR Holdings

SeaChange Reaches Cooperation Agreement with Largest Shareholder, TAR Holdings March 1st, 2019 Appoints Robert Pons and Jeff Tuder to Board of Directors ACT...

27/02/2019

SeaChange Announces Leadership Changes

SeaChange Announces Leadership Changes February 26th, 2019 Edward Terino Resigns as CEO Board of Directors Creates Interim Office of the Chief Executive AC...

12/02/2019

SeaChange Acquires Xstream

SeaChange Acquires Xstream February 11th, 2019 Adds more than 5 million active subscribers Transaction expected to increase revenues and be accretive to Sea...

03/01/2019

SeaChange Appoints Yossi Aloni Senior Vice President and Chief Commercial Officer

SeaChange Appoints Yossi Aloni Senior Vice President and Chief Commercial Office...

21/12/2018

SeaChange Panoramic Platform Selected by Russia's TotalVideo for OTT Platform

SeaChange Panoramic Platform Selected by Russia's TotalVideo for OTT Platfor...

13/12/2018

SeaChange International Reports Third Quarter Fiscal 2019 Results

SeaChange International Reports Third Quarter Fiscal 2019 Results December 10th, 2018 ACTON, Mass., Dec. 10, 2018 (GLOBE NEWSWIRE) SeaChange International,...

26/11/2018

SeaChange International to Issue Fiscal 2019 Third Quarter Results on December 10, 2018

SeaChange International to Issue Fiscal 2019 Third Quarter Results on December 1...

11/10/2018

SeaChange International to Issue Fiscal 2019 First Quarter Results on June 6, 2018

SeaChange International to Issue Fiscal 2019 First Quarter Results on June 6, 20...

11/10/2018

SeaChange International Named To Streaming Media's Top 50 Companies Leading The Online Video Industry List

SeaChange International Named To Streaming Media's Top 50 Companies Leading ...

13/09/2018

SeaChange Unveils cView UI/UX Software to Provide Pay-TV Operators a Smooth Bridge between Legacy, IP, and OTT/Multiscreen Worlds

SeaChange Unveils cView UI/UX Software to Provide Pay-TV Operators a Smooth Brid...

06/09/2018

SeaChange International Reports Second Quarter Fiscal 2019 Results

SeaChange International Reports Second Quarter Fiscal 2019 Results September 5th, 2018 ACTON, Mass., Sept. 05, 2018 (GLOBE NEWSWIRE) SeaChange Internationa...

21/08/2018

SeaChange International Reports Preliminary Second Quarter Fiscal 2019 Results

SeaChange International Reports Preliminary Second Quarter Fiscal 2019 Results August 21st, 2018 ACTON, Mass., Aug. 21, 2018 (GLOBE NEWSWIRE) SeaChange Int...

31/07/2018

Atlantic Broadband Deploys SeaChange Solutions for New IP VOD Service

Atlantic Broadband Deploys SeaChange Solutions for New IP VOD Service July 30th, 2018 SeaChange collaborates with Concurrent Technology Inc. to provide Atlan...

19/07/2018

Seachange Promotes Marek Kielczewski to Chief Technology Officer

Seachange Promotes Marek Kielczewski to Chief Technology Officer July 19th, 2018 Marek Kielczewski is elevated to CTO role after success leading video soluti...

16/06/2018

SeaChange International Reports First Quarter Fiscal 2019 Results

SeaChange International Reports First Quarter Fiscal 2019 Results June 6th, 2018 ACTON, Mass., June 06, 2018 (GLOBE NEWSWIRE) SeaChange International, Inc....

07/06/2018

SeaChange cFlow Portfolio Equips Content Owners, Aggregators, Service Providers to Serve Up Personalization

SeaChange cFlow Portfolio Equips Content Owners, Aggregators, Service Providers...

07/06/2018

SeaChange Launches Powerful Cloud-Based, End-To-End Multi-Screen Video Management And Delivery Platform

SeaChange Launches Powerful Cloud-Based, End-To-End Multi-Screen Video Managemen...

07/12/2017

LIBERTY GLOBAL SELECTS SEACHANGE FOR NEXT-GENERATION CLOUD-BASED VIDEO OFFERING

ACTON, Mass. (December 6, 2017) Video solutions innovator SeaChange International Inc. (NASDAQ: SEAC) today announced its Adrenalin multiscreen video solution...

14/09/2017

Partner TV OTT Service Launches on SeaChange Adrenalin Platform

ACTON, Mass., Sept. 12, 2017 (GLOBE NEWSWIRE) -- SeaChange International, Inc. (NASDAQ:SEAC) today announced that Partner Communications, a leading Israeli Telc...

14/09/2017

SeaChange Strengthens End User Video Experience at IBC 2017

ACTON, Mass., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Video solutions innovator SeaChange International, Inc (NASDAQ:SEAC) will demonstrate its latest products durin...

21/06/2017

Blue Ridge Communications Prepares for OTT Video with SeaChange

ACTON, Mass. (June 21, 2017) On the heels of completing its migration to the new generation Adrenalin video back office from SeaChange International, Inc. (NA...

15/06/2017

SeaChange Announces Preliminary Second Quarter Fiscal Year 2017 Results

ACTON, Mass. -- Multiscreen innovator SeaChange International, Inc. (NASDAQ: SEAC) today announced preliminary results for its second quarter fiscal year 2017. ...

15/06/2017

SeaChange International to Issue Fiscal 2017 Second Quarter Results on September 1

ACTON, Mass. -- Multiscreen innovator SeaChange International, Inc. (NASDAQ:SEAC...

15/06/2017

SeaChange Features Industry Leading Video Delivery Chain at IBC 2016 Next Week

ACTON, Mass. During IBC 2016 (Amsterdam, Sept. 9-13) service providers will experience the complete video delivery chain from SeaChange International, Inc. (N...

15/06/2017

SeaChange International Reports Second Quarter Fiscal 2017 Results

ACTON, Mass. (Sept. 1, 2016) SeaChange International, Inc. (NASDAQ: SEAC) today reported second quarter fiscal 2017 revenue of $18.5 million and U.S. GAAP los...

15/06/2017

Filmbankmedia Chooses SeaChange Rave to Build Premium Film/TV Cloud Business Internationally

ACTON, Mass. Filmbankmedia, the leading international non-theatrical distribut...

15/06/2017

SeaChange to Debut Converged Multiscreen User Experiences This Week at IBC 2016

ACTON, Mass. Multiscreen software innovator SeaChange International, Inc. (NASDAQ: SEAC) will debut a new generation of user experience software products at I...

15/06/2017

Starman Cable TV Adds Over-The-Top Video Service with SeaChange

ACTON, Mass. Starman, a leading cable TV and broadband operator in Estonia, has introduced OTT video service based on the recent upgrade of its SeaChange (NAS...

15/06/2017

SeaChange International to Issue Fiscal 2017 Third Quarter Results on December 6

ACTON, Mass. SeaChange International, Inc. (NASDAQ: SEAC) will announce its fiscal 2017 first quarter results on Tuesday, December 6, 2016 after the market cl...

15/06/2017

SeaChange International Reports Third Quarter Fiscal 2017 Results

ACTON, Mass. (Dec. 6, 2016) SeaChange International, Inc. (NASDAQ: SEAC) today reported third quarter fiscal 2017 revenue of $20.0 million and U.S. GAAP loss ...

15/06/2017

SeaChange to Present at 19th Annual Needham Growth Conference

ACTON, Mass. Multiscreen software innovator SeaChange International, Inc. (NASDAQ: SEAC) today announced that Ed Terino, Chief Executive Officer, will present...

15/06/2017

SeaChanges Jonathan Rider Advances to Chief Operating Officer

ACTON, Mass. Multiscreen video software innovator SeaChange International, Inc. (NASDAQ: SEAC) has promoted Jonathan Rider to the position of Senior Vice Pres...

15/06/2017

SeaChange International to Issue Fiscal 2017 Fourth Quarter and Full Year Results on April 10

ACTON, Mass. Multiscreen innovator SeaChange International, Inc. (NASDAQ: SEAC...

15/06/2017

SEACHANGE INTERNATIONAL REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2017 RESULTS

ACTON, Mass. (April 10, 2017) SeaChange International, Inc. (NASDAQ: SEAC) today reported fourth quarter fiscal 2017 revenue of $23.8 million and U.S. GAAP lo...

15/06/2017

SeaChange International to Issue Fiscal 2018 First Quarter Results on June 6

ACTON, Mass. (May 24, 2017) Multiscreen innovator SeaChange International, Inc. (NASDAQ: SEAC) will announce its fiscal 2018 first quarter financial results o...

15/06/2017

SeaChange International Reports First Quarter Fiscal 2018 Results

SeaChange International Reports First Quarter Fiscal 2018 Results ACTON, Mass. (June 6, 2017) SeaChange International, Inc. (NASDAQ: SEAC) today reported fir...

29/03/2017

Quickline Launches Advanced TV Service on SeaChange End-to-end Video Platform and RDK-V Set-top Software

ACTON, Mass. Swiss cable network operator The Quickline Group has raised the b...

22/03/2017

Midco Selects SeaChange Next Generation Platform

ACTON, Mass. SeaChange International, Inc. (NASDAQ: SEAC) proudly announced today that Midco, its longtime customer and partner, is upgrading its multi-market...

19/01/2017

SeaChange to Present at Noble Capital Markets Investor Conference

ACTON, Mass. Multiscreen software innovator SeaChange International, Inc. (NASDAQ: SEAC) today announced that Ed Terino, Chief Executive Officer, will present...

12/12/2016

Cable Onda Selects SeaChange Solutions to Create Next Generation Video Experience

ACTON, Mass. Cable Onda has begun building its next generation video experienc...

02/12/2016

SeaChange Appoints Mark Tubinis to Lead Engineering and Services

ACTON, Mass. Multiscreen video software innovator SeaChange International, Inc. (NASDAQ: SEAC) today announced the appointment of Mark Tubinis as Senior Vice ...

18/10/2016

Cogeco Connexion Deploys SeaChange for New Generation of Video Services

ACTON, Mass. SeaChange International, Inc. (NASDAQ: SEAC) today announced that Cogeco Connexion has rolled out its latest generation of on-demand television s...

29/08/2016

SeaChange to Participate in September Investor Conferences

ACTON, Mass. Multiscreen innovator SeaChange International, Inc. (NASDAQ: SEAC) today announced that Ed Terino, Chief Executive Officer, and Peter Faubert, Ch...

07/07/2016

SeaChange Appoints Digital Media Veteran Peter Faubert as Chief Financial Officer

ACTON, Mass. Multiscreen video software innovator SeaChange International, Inc...

29/06/2016

SeaChange Enhances Adrenalin Platform to Expand Service Providers Multiscreen TV Revenues

ACTON, Mass. Multiscreen video software innovator SeaChange International, Inc...

04/03/2015

Arqiva Building Freeview Play Metadata System on SeaChange Adrenalin and Profeional Services

ACTON, Mass. -- SeaChange International, Inc. (NASDAQ: SEAC) today announced tha...

04/09/2014

SeaChange Cloud Adrenalin Selected by BBC Worldwide for BBC Store

ACTON, Mass. - SeaChange International, Inc. (Nasdaq: SEAC) announced that its SeaChange Cloud Adrenalin multi-screen television service has been selected by B...