His third company Imedia of San Francisco, CA is being sold for $100M to Terayon Communication Systems.
Terayon Announces Acquisition of Efi Arazi’s Imedia Corporation

Acquisition Adds Video Expertise to Terayon’s Broadband Access Portfolio

Santa Clara, California. (July 13, 1999) – Terayon Communication Systems, Inc. (Nasdaq: TERN) today announced a definitive agreement to acquire Imedia Corporationhttp://www.imedia.com. Terayon, a leading supplier of broadband cable modem systems, plans to acquire Imedia, a privately held company that produces routing and re-multiplexing systems for digital video. Imedia’s innovative, patented products enable cable operators to select and customize their program lineup for viewer preferences, while maximizing video capacity and quality over standards-based set-top boxes. The acquisition will expedite Terayon’s ability to offer a complete broadband system portfolio to support high-speed delivery of data, voice and video over cable.

The Imedia acquisition will be accounted for as a purchase. Terayon’s acquisition of Imedia, which is valued at $100 million in stock plus transaction costs, is expected to be effective late third quarter.

Efi Arazi   [email protected]
Chairman of the Board
A recognized industry leader who has brought multimillion dollar ventures to new markets, Efi Arazi founded and pioneered Scitex and Electronics for Imaging (EFI), today worth a combined $3.5 Billion in market capitalization. Mr. Arazi was invited by the founders of Imedia Corporation to join as partner and chief executive officer in 1995. He was named Chairman of the Board in 1998.

Terayon and Imedia have strong, complementary customer bases that include the world’s leading cable operators. Imedia has a customer base that includes major cable operators, such as Adelphia, Cox Communications, and Time Warner, as well as partners, such as General Instrument. Terayon’s cable modem systems are deployed by leading North American cable operators, Cablevision Systems, Rogers Cablesystems, Shaw Communications and TCA Cable TV, as well as by major international cable operators including United Pan-Europe Communications (UPC) in Europe, Jupiter Telecommunications in Japan, and operators in Latin America.

Terayon Communication Systems provides cable operators with reliable, high-capacity cable modem systems that support a full range of broadband services. The Company, based in Santa Clara, California, USA, has sales and support offices worldwide, and is traded on the Nasdaq National Market under the symbol TERN. Terayon can be found on the web at www.terayon.com.

Privately held Imedia Corporation, based in San Francisco, develops and markets the industry’s most powerful tools for cable, satellite, and terrestrial television operators to manage compressed digital video. Their patented products are currently used to deliver standards-based video (MPEG) to operators on three continents.

For more see http://www.imedia.com/news/index.html