Imagine Communications to Be Sold to Colorado-Based Harris BroadcastSunday, December 8, 2013
Imagine Communications has agreed to be acquired by Colorado-based Harris Broadcast. Financial terms of the deal, announced Dec. 4, were not disclosed. The transaction is expected to close in January.
Based in Carmel Valley, Imagine Communications specializes in adapting video for viewing on various devices. The company has a research and development office in Israel.
“We’re in a very fast-growing and exciting field,” CEO Richard Stanfield told the Business Journal in the summer of 2011. Reached for comment in early December, Stanfield said that there is a big demand in the media space to push video to mobile devices. Imagine Communications provides the software to do that.
Harris Broadcast, part of the Gores Group LLC, is a “great company” with a good management team, the CEO said.
Imagine Communications’ backers include Carmel Ventures of Israel, Columbia Capital of Alexandria, Va., and Court Square Ventures of Charlottesville, Va. By mid-2011 investors had put more than $34 million into the company.