T-Mobile US, Inc. (NasdaqGS:TMUS) signed a definitive agreement to acquire Layer3 TV, Inc. from SeaChange International and other stakeholders on November 9, 2017. SeaChange International, Inc. (NasdaqGS:SEAC) has received an initial payment of approximately $4.6 million has been received by the Company, with an additional payment of approximately $2.1 million being held in escrow, subject to the satisfaction of the escrow provisions. As part of the transaction, the Layer3 team will be integrated into T-Mobile. More than 200 Layer3 TV employees and its executive personnel will work under T-Mobile US' new television team, led by Layer3 TV's Chief Executive Officer Jeff Binder. Jeff Binder has joined T-Mobile US as an Executive Vice President and part of the senior leadership team. The transaction is expected to be completed in January, 2018. Goldman Sachs & Co. LLC and LionTree Advisors, LLC acted as financial advisors for Layer3 TV, Inc. James Gorton, David Lee, and Thomas Malone from Latham & Watkins LLP acted as the legal advisors for T-Mobile US, Inc. (NasdaqGS:TMUS).

T-Mobile US, Inc. (NasdaqGS:TMUS) completed the acquisition of Layer3 TV, Inc. from SeaChange International and other stakeholders for approximately $330 million on January 22, 2018. The purchase price is subject to customary working capital and other post-closing adjustments. Upon closing of the transaction, Layer3 TV became a wholly-owned consolidated subsidiary.