May 27, 2011

SeaChange Comments On Arris Rumors; Arris Mum

Major news organizations reported last night that Arris Group Inc. is negotiating to purchase multi-screen video solutions provider SeaChange International. William Styslinger, SeaChange’s chairman and CEO, does not deny his company is weighing its options, saying in a just-released statement:  “As we have previously announced, the Board of Directors has formed an independent advisory committee to work with management and the Board to advise and support them in a wide range of business development and other initiatives.”

He continued, “Together with our financial advisors, Blackstone Advisory Partners, LP and Evercore Group L.L.C., the committee is continuing to evaluate a range of strategic options for the Company. Its work is ongoing and the Company will inform investors if there are material developments to report.”

Arris told CT Reports it has "no comment" on the buyout rumors.