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| [January 25, 2013] |
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SeaChange Announces Resignation of Peter Feld from the Board of Directors
ACTON, Mass. --(Business Wire)--
SeaChange
International�(Nasdaq: SEAC), a leading global multi-screen video
software innovator, today announced that effective January 25, 2013, Mr.
Peter Feld has resigned from the SeaChange Board of Directors.
"Upon joining the SeaChange Board of Directors in December of 2010, my
goal was to work collaboratively with my fellow directors to
significantly improve financial performance, strategically re-position
the Company to focus on the core software business, and to create and
enhance value for the benefit of all shareholders," commented Peter
Feld. "Since that time we have accomplished a great deal. Under the
leadership of Chief Executive Officer Raghu Rau, we have significantly
strengthened the management team, exited two non-core businesses,
reduced costs, and developed market-leading products for multi-screen
video and advanced adertising solutions that are positioned for future
success."
"On behalf of our management team and the entire Company, I thank Peter
for his valuable service and contributions to SeaChange and its
shareholders," stated Raghu Rau, CEO, SeaChange. "He has been an
integral part of our strategic and financial transformation and has
helped to put the Company on a path to long-term, profitable growth and
value creation."
Tom Olson, Chairman of the Board of Directors, SeaChange, added "The
Board of Directors and I thank Peter for his vital contributions over
the past two years. His involvement brought a renewed sense of urgency
and focus to delivering improved results and serving the best interests
of the Company and its shareholders. We wish Peter well in his future
endeavors."
Mr. Feld's resignation brings the number of directors serving on the
SeaChange board to six. At this time, the Company does not intend to
fill the vacancy created as a result of Mr. Feld's resignation.
About SeaChange International (News - Alert) Ranked among the top 250
software companies in the world, SeaChange International (NASDAQ: SEAC)
enables transformative multi-screen video services through an open,
cloud-based, intelligent software platform trusted by cable, IPTV (News - Alert) and
mobile operators globally. Personalized and fully monetized video
experiences anytime on any device, in the home and everywhere, are the
product of the Company's superior video platform, advertising and
in-home offerings.
SeaChange's hundreds of customers are many of the world's most powerful
media brands including all major cable operators in the Americas and
Europe, and the largest telecom companies in the world. Headquartered in
Acton, Massachusetts, SeaChange is TL 9000 certified and has product
development, support and sales offices around the world. Visit www.schange.com.

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