BigBand Networks

Last updated
BigBand Networks
Type Private
Industry
Founded1999, public 2007
Headquarters
Redwood City, California
,
United States
Key people
  • Amir Bassan-Eskenazi, President & Co-Founder, Former CEO
  • Ran Oz, Co-Founder & Former CTO
RevenueIncrease2.svg US$112M (FY 2010) [1]
Decrease2.svg US$-30.8M (FY 2010) [1]
Decrease2.svg US$-31.6M (FY 2010) [1]
Total assets Decrease2.svg US$181M (FY 2010) [2]
Total equity Decrease2.svg US$134M (FY 2010) [2]
Number of employees
620 (July 2007)
Parent Arris Group
Website bigbandnet.com

BigBand Networks was a corporation headquartered in Redwood City, California, that opened in 1999 and specialized in selling multimedia technologies to cable television multi-system operators. It had its IPO on the Nasdaq in 2007, which was met with controversy when a class-action lawsuit alleged that the company violated the Securities Act of 1933. The company was acquired as a division within Arris Group in 2011.

Contents

BigBand manufactured and sold digital video and data processing products and services for digital video and cable modem termination systems (CMTS). During its existence, BigBand won two Emmy Awards for its video on demand service and switched video technology.

Description

BigBand's development centers were assimilated by Arris Group. The main video products are developed in Tel Aviv, Israel employing roughly 200 people. The main data and voice products development center is in Westborough, Massachusetts with roughly 175 people. [3] A third research and development office is located in Shenzhen, China. [4]

The company formerly sold video, voice, and data products directly to major cable multi-system operators (MSOs). Amongst the company's biggest MSO clients were Comcast, Time Warner Cable, Cablevision, Cox with Verizon becoming their biggest customer in 2006.

BigBand's main products include a digital video processing platform called BMR and a cable modem termination system (CMTS) called Cuda. The video platform enables services such as switched video, [5] digital cable, video on demand and IPTV offered on a variety of transport networks such as QAM cable, DSL and Verizon Fios.

BigBand won two Emmy Awards, one for service in the US with Time Warner Cable "Start Over", enabling video on demand, the ability to pause a broadcast program and watch it later. [6] In 2008, BigBand received the Technology and Engineering Emmy Award for its switched video technology which enabled cable operators to deliver unlimited number of broadcast channels to their subscribers. [7]

History

2007 IPO and class action lawsuit

BigBand went public in March 2007. [8] The offering was underwritten by Morgan Stanley, Merrill Lynch, Jeffries & Company, Cowen & Company and ThinkEquity. [9]

In October 2007, a class-action shareholder lawsuit was filed on behalf of shareholders who purchased BigBand Network securities in the company's IPO on March 15, 2007. The lawsuit sought to pursue remedies under the Securities Act of 1933. The complaint alleged BigBand violated the Securities Act, and that company insiders including the CEO, CFO and CTO knowingly published misleading and false statements about the company's financial health and product offerings. In particular, the complaint alleged that BigBand materially misstated their revenues, and engaged, among other allegations, in the practice informally known as channel stuffing to artificially inflate their financials prior to IPO. The suit was settled in 2009, with BigBand agreeing to pay US$1.5 million. [10]

In 2007, BigBand sued a firm started by ex-employees. The firm, called Imagine Communications, was allegedly infringing on 3 of BigBand's patents covering video processing and bandwidth management techniques. [11]

Acquisition by Arris Group

In 2011 the acquisition of BigBand by Arris Group was completed for $172 million, with Arris paying $53 million for the acquisition of BigBand's outstanding shares. [12]

Publications

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References

  1. 1 2 3 BigBand Networks (BBND) annual SEC income statement filing via Wikinvest.
  2. 1 2 BigBand Networks (BBND) annual SEC balance sheet filing via Wikinvest.
  3. ↑ U.S. Securities and Exchange Commission (2 August 2007). "BIGBAND NETWORKS REPORTS SECOND QUARTER 2007 FINANCIAL RESULTS". SEC.gov . Retrieved 13 December 2016.
  4. ↑ "BigBand Networks Expands Presence in China". Business Wire. 2007-03-30.
  5. ↑ "Cablevision Deploys BigBand's Switched Video". Converge Network Digest. 2007-07-24. Archived from the original on 2007-09-27.
  6. ↑ "Tech Emmys Take the Strip". Broadcasting & Cable. Retrieved 2018-09-15.
  7. ↑ "Winners of the 59th Technology and Engineering Emmy Awards". Archived from the original on 2008-05-09. Retrieved 2011-03-28.
  8. ↑ Alan Breznick (2007-03-15). "BigBand IPO: Boing!". Cable Digital News.
  9. ↑ "BigBand Networks raises $139m on Nasdaq IPO - Globes". Globes.co.il (in Hebrew). 15 March 2007. Retrieved 2018-09-14.
  10. ↑ "BigBand Settles Shareholder Lawsuit". Multichannel News . Retrieved 2018-09-14.
  11. ↑ Todd Spangler (2007-06-05). "BigBand Sues Firm Started by Ex-Employees". Multichannel News.
  12. ↑ "ARRIS Completes BigBand Acquisition". Yahoo! Finance . ZACKS. 22 November 2011. Retrieved 15 December 2011.
  13. ↑ "Paper - Network Design For A Multiplicity Of Services - NCTA Technical Papers". NCTATechnicalPapers.com. Retrieved 2018-09-14.
  14. ↑ "Paper - The Triple-Play Network Platform - NCTA Technical Papers". NCTATechnicalPapers.com. Retrieved 2018-09-14.
  15. ↑ "The Statistics of Switched Broadcast - 2005". docslide.us. Retrieved 2018-09-14.
  16. ↑ "Paper - Advanced Monitoring Of Switched Broadcast Systems - NCTA Technical Papers". NCTATechnicalPapers.com. Retrieved 2018-09-14.
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