Jeff Smith, Starboard Value
: Activist hedge fund manager Jeff Smith
has just disclosed that his firm, Starboard Value, now holds 4.99% of Seachange International (NASDAQ:SEAC
), down from the 6.8% stake it reported last week
According to Multichannel
News, several companies from the industry are looking into acquiring SeaChange International, with Rovi Corporation (NASDAQ:ROVI
) and TiVo Inc. (NASDAQ:TIVO
) being names particularly interested in signing a deal. SeaChange reported product revenues up by 20% on the year, which totaled $16.2 million in the second quarter of fiscal 2014. The company also posted a GAAP operating income worth $0.5 million, versus a loss of $7.5 million in the year-ago quarter.
's Roumell Asset Management owns some 887,700 shares of SeaChange International, followed by Jason F. Harris
' Kendall Square Capital with a stake of 342,900 shares.
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