Looks like the Sezmi curse is still alive...
Assets of Sezmi and “Content Solutions Business” Sold for Steep Losses
During the quarter, KIT sold off the assets of Sezmi Corporation, for $2.9m. KIT acquired Sezmi at the beginning of 2012 for approximately $27m. At that time, KIT management said that it expected Sezmi contribute revenue of at least $20m, and earnings of approximately $4m in 2012, and be “immediately accretive on a revenue, cash flow, and cash earnings basis.” Instead, less than 8 months after closing the Sezmi acquisition, KIT has sold off the business at a loss of $28.6m.
When pressed for an explanation on the company’s conference call with equity analysts, KIT’s new CFO Fabrice Hamaide said that the forecast for Sezmi “did not turn out the way previous management had believed Sezmi customers and the Sezmi platform would be able to actually deliver.”
The company also said that it sold its “content solutions business” for $1m in cash. The loss associated with the transaction was $15.5m million.
that's sad; it still functions as a standalone system (except for not having a program guide and not being able to set its clock). If we could only get access to the source code (: