Harmonic

When a cable or streaming operator delivers video to your screen, the software processing that stream is often Harmonic's. The California company sells video-delivery technology, encoders, transcoders and playout systems that broadcasters and streaming services use to prepare and distribute content. Its second and faster-changing business is broadband: Harmonic pioneered a virtualized cable system called CableOS that lets operators run broadband access as software on standard servers instead of dedicated hardware, helping them push higher speeds over existing cable networks. Founded in 1988 and based in San Jose, that broadband line has become the growth engine, anchored by large operators upgrading their networks. Revenue can be lumpy, since it depends on the timing of big operator rollouts and a concentrated set of customers, but each deployment tends to bring years of follow-on equipment and capacity sales.

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