Annual report pursuant to Section 13 and 15(d)

Related Party

v2.4.0.6
Related Party
12 Months Ended
Jan. 31, 2012
Related Party

16. Related Party

 

On September 1, 2009, we completed our acquisition of eventIS from a holding company in which Erwin van Dommelen held a 31.5% interest. Subsequent to the acquisition Mr. van Dommelen was appointed President of SeaChange’s Software segment in March 2010. On closing the transaction, we made cash payments to the holding company totaling $37.0 million and issued $1.1 million of restricted shares. We have made and are obligated to make additional fixed and variable earnout payments to the holding company of deferred purchase price under the eventIS share purchase agreement. See note 6 for payment details.