Karen Singer Discloses its Views on SeaChange International
January 23, 2019 at 03:29 am IST
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On January 22, 2019, Karen Singer announced that she has engaged with the Chairman of SeaChange International, Inc.’s Board of Directors to convey certain of its concerns with the Company and its business. Karen Singer stated that she has informed the Company that (i) she is disappointed with the Company’s poor operational and financial results, (ii) she has expressed her view that the Company’s poor results and falling stock price may be a result of mismanagement by the Company’s current management, (iii) she has also expressed her concerns about the lack of refreshment on the Board of Directors, noting that 2 directors have lengthy tenures of 14+ years and 8+ years, respectively, in which time the Company’s stock price has decreased ~89% and ~79%, respectively, and (iv) the Company should consider strategic and operational alternatives, including, among other things, pursuing a sale of the Company’s assets or other corporate transaction, in order to unlock value for the Company’s stockholders. Karen Singer added that if the Company does not promptly take action to remediate the Company’s current condition and otherwise address her concerns, which action would be in the best interests of the Company’s stockholders, she might take such actions as she deems necessary and advisable, including, among other things, seeking representation on the Company’s Board of Directors.
SeaChange International, Inc. provides video streaming, linear television (TV), and video advertising technology for operators, content owners, and broadcasters globally. The Company is engaged in the delivery of multiscreen, advertising and over-the-top (OTT) video management solutions. The Companyâs software products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for service providers, telecommunications companies, satellite operators, broadcasters and other content providers. Its technology enables operators, broadcasters, and content owners to launch and grow linear TV and direct-to-consumer streaming services to manage, curate, and monetize their content. It sells its software products and services worldwide, primarily to service providers, such as VIDAA USA Inc. and Liberty Global, plc; telecommunications companies, such as Verizon Communications, Inc., Frontier Communications Corporation and others.
SEACHANGE INTERNATIONAL, INC. 
