<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 21, 2012&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">SEACHANGE INTERNATIONAL, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Exact Name of Registrant as Specified in its Charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="width: 32%; text-decoration: none; text-align: center; border-bottom: Black 1pt solid">DELAWARE</TD>
    <TD STYLE="width: 2%; text-align: center; padding-bottom: 1pt; text-decoration: none">&nbsp;</TD>
    <TD STYLE="width: 32%; text-decoration: none; text-align: center; border-bottom: Black 1pt solid">0-21393</TD>
    <TD STYLE="width: 2%; text-align: center; padding-bottom: 1pt; text-decoration: none">&nbsp;</TD>
    <TD STYLE="width: 32%; text-decoration: none; text-align: center; border-bottom: Black 1pt solid">04-3197974</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other Jurisdiction of<BR>
 Incorporation or Organization)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File<BR>
 Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer<BR>
 Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; text-decoration: none">
    <TD STYLE="width: 50%; text-decoration: none; border-bottom: Black 1pt solid; padding-left: 0.12in">50 Nagog Park, Acton, MA</TD>
    <TD STYLE="width: 20%; padding-bottom: 1pt; text-decoration: none">&nbsp;</TD>
    <TD STYLE="width: 30%; text-decoration: none; border-bottom: Black 1pt solid; text-align: center">01720</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.24in">(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registrant&rsquo;s telephone number including area code: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978)
897-0100&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: center; border-bottom: Black 1pt solid">No change since last report</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Former Name or Address, if Changed Since Last Report)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see </I>General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;&nbsp;</FONT>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;&nbsp;</FONT><FONT STYLE="font-size: 10pt">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 2.01.</B></TD><TD STYLE="text-align: justify"><B>Completion of Acquisition or Disposition of Assets.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 21, 2012, SeaChange International,
Inc. (the &ldquo;Company&rdquo;) entered into a Share Purchase Agreement (the &ldquo;Share Purchase Agreement&rdquo;) with Avail
Media, Inc. (&ldquo;Avail&rdquo;) pursuant to which the Company sold its wholly-owned subsidiary On Demand Group Limited (&ldquo;ODG&rdquo;)
to Avail. The aggregate purchase price payable to SeaChange pursuant to the Share Purchase Agreement is $27 million on a cash-free,
debt free basis. Approximately $5.7 million shall be held in escrow as security for the representations, warranties, covenants
and agreements made by the Company pursuant to the Share Purchase Agreement. The Share Purchase Agreement includes customary representations,
warranties and covenants by the parties. Pursuant to the terms of the Share Purchase Agreement, the Company agreed not to compete
with or solicit employees of ODG for an 18 month period subsequent to closing, with explicit agreement that SeaChange&rsquo;s current
business operations would not be prohibited by the foregoing noncompetition clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Share Purchase
Agreement is qualified in its entirety by reference to the full text of the Share Purchase Agreement, which is attached as Exhibit
2.1 to this report and is incorporated in this report by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Share Purchase Agreement has been attached
as an exhibit to provide investors and security holders with information regarding its terms. It is not intended to provide any
other factual information about the Company, Avail or ODG. The representations, warranties and covenants contained in the Share
Purchase Agreement were made only for the purposes of such agreement and as of specified dates, were solely for the benefit of
the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. The representations and
warranties may have been made for the purposes of allocating contractual risk between the parties to the agreement instead of establishing
these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those
applicable to investors. Investors are not third-party beneficiaries under the Share Purchase Agreement and should not rely on
the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or
condition of the Company, Avail or ODG or any of their respective subsidiaries or affiliates. In addition, the assertions embodied
in the representations and warranties contained in the Share Purchase Agreement are qualified by information in a confidential
disclosure schedule that the parties have exchanged. Accordingly, investors should not rely on the representations and warranties
as characterizations of the actual state of facts, since (i)&nbsp;they were made only as of the date of such agreement or a prior,
specified date, (ii)&nbsp;in some cases they are subject to qualifications with respect to materiality, knowledge and/or other
matters, and (iii)&nbsp;they may be modified in important part by the underlying disclosure schedule. Moreover, information concerning
the subject matter of the representations and warranties may change after the date of the Share Purchase Agreement, which subsequent
information may or may not be fully reflected in the Company&rsquo;s public disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Item 9.01.</TD><TD STYLE="text-align: justify">Financial Statements and Exhibits</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following Exhibits are attached to this report:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 10%; border-bottom: Black 1pt solid">Exhibit No.</TD>
    <TD NOWRAP STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 88%; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD>
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD>
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1&dagger;</TD>
    <TD>&nbsp;</TD>
    <TD>Share Purchase Agreement, dated as of May 21, 2012, by and between SeaChange International, Inc. and Avail Media, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD>The following unaudited pro forma condensed combined financial statements:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Unaudited Pro Forma Condensed Balance Sheet as of
January 31, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Unaudited Pro Forma Condensed Statements of Operations
as of January 31, 2012, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&dagger; Confidential Treatment Requested</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in">&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold">SEACHANGE INTERNATIONAL, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="text-decoration: none; width: 23%; border-bottom: Black 1pt solid">&nbsp;&nbsp;/s/ Raghu Rau</TD>
    <TD STYLE="text-decoration: none; width: 23%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Raghu Rau</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in">Dated: May 25, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in">&nbsp;</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid">Exhibit No.</TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD>
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD>
    <TD STYLE="tab-stops: center 3.0in right 6.0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1&dagger;</TD>
    <TD>&nbsp;</TD>
    <TD>Share Purchase Agreement, dated as of May 21, 2012, by and between SeaChange International, Inc. and Avail Media, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD>The following unaudited pro forma condensed combined financial statements:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Unaudited Pro Forma Condensed Balance Sheet as of
January 31, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Unaudited Pro Forma Condensed Statements of Operations
as of January 31, 2012, 2011 and 2010</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&dagger; Confidential Treatment Requested</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin: 0"></P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v314495_8k.htm", "description": "CURRENT REPORT FORM 8-K", "secsgml_size_bytes": 21521}]
{"company-data": {"conformed-name": "SEACHANGE INTERNATIONAL INC", "cik": "0001019671", "assigned-sic": "3663", "irs-number": "043197974", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21393", "film-number": "12869929"}, "business-address": {"street1": "50 NAGOG PARK", "city": "ACTON", "state": "MA", "zip": "01720", "phone": "9788970100"}, "mail-address": {"street1": "50 NAGOG PARK", "city": "ACTON", "state": "MA", "zip": "01720"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
May 21, 2012
SEACHANGE INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
0-21393
04-3197974
(State or Other Jurisdiction of
Incorporation or Organization)
(Commission File
Number)
(I.R.S. Employer
Identification No.)
50 Nagog Park, Acton, MA
01720
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number including area code:
(978)
897-0100
No change since last report
(Former Name or Address, if Changed Since Last Report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(
see
General Instruction A.2. below):
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01.
Completion of Acquisition or Disposition of Assets.
On May 21, 2012, SeaChange International,
Inc. (the "Company") entered into a Share Purchase Agreement (the "Share Purchase Agreement") with Avail
Media, Inc. ("Avail") pursuant to which the Company sold its wholly-owned subsidiary On Demand Group Limited ("ODG")
to Avail. The aggregate purchase price payable to SeaChange pursuant to the Share Purchase Agreement is $27 million on a cash-free,
debt free basis. Approximately $5.7 million shall be held in escrow as security for the representations, warranties, covenants
and agreements made by the Company pursuant to the Share Purchase Agreement. The Share Purchase Agreement includes customary representations,
warranties and covenants by the parties. Pursuant to the terms of the Share Purchase Agreement, the Company agreed not to compete
with or solicit employees of ODG for an 18 month period subsequent to closing, with explicit agreement that SeaChange's current
business operations would not be prohibited by the foregoing noncompetition clause.
The foregoing description of the Share Purchase
Agreement is qualified in its entirety by reference to the full text of the Share Purchase Agreement, which is attached as Exhibit
2.1 to this report and is incorporated in this report by reference.
The Share Purchase Agreement has been attached
as an exhibit to provide investors and security holders with information regarding its terms. It is not intended to provide any
other factual information about the Company, Avail or ODG. The representations, warranties and covenants contained in the Share
Purchase Agreement were made only for the purposes of such agreement and as of specified dates, were solely for the benefit of
the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. The representations and
warranties may have been made for the purposes of allocating contractual risk between the parties to the agreement instead of establishing
these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those
applicable to investors. Investors are not third-party beneficiaries under the Share Purchase Agreement and should not rely on
the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or
condition of the Company, Avail or ODG or any of their respective subsidiaries or affiliates. In addition, the assertions embodied
in the representations and warranties contained in the Share Purchase Agreement are qualified by information in a confidential
disclosure schedule that the parties have exchanged. Accordingly, investors should not rely on the representations and warranties
as characterizations of the actual state of facts, since (i) they were made only as of the date of such agreement or a prior,
specified date, (ii) in some cases they are subject to qualifications with respect to materiality, knowledge and/or other
matters, and (iii) they may be modified in important part by the underlying disclosure schedule. Moreover, information concerning
the subject matter of the representations and warranties may change after the date of the Share Purchase Agreement, which subsequent
information may or may not be fully reflected in the Company's public disclosures.
Item 9.01.
Financial Statements and Exhibits
(d) Exhibits
The following Exhibits are attached to this report:
Exhibit No.
Description
2.1†
Share Purchase Agreement, dated as of May 21, 2012, by and between SeaChange International, Inc. and Avail Media, Inc.
99.1
The following unaudited pro forma condensed combined financial statements:
Unaudited Pro Forma Condensed Balance Sheet as of
January 31, 2012
Unaudited Pro Forma Condensed Statements of Operations
as of January 31, 2012, 2011 and 2010
† Confidential Treatment Requested
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
SEACHANGE INTERNATIONAL, INC.
By:
/s/ Raghu Rau
Raghu Rau
Chief Executive Officer
Dated: May 25, 2012
EXHIBIT INDEX
Exhibit No.
Description
2.1†
Share Purchase Agreement, dated as of May 21, 2012, by and between SeaChange International, Inc. and Avail Media, Inc.
99.1
The following unaudited pro forma condensed combined financial statements:
Unaudited Pro Forma Condensed Balance Sheet as of
January 31, 2012
Unaudited Pro Forma Condensed Statements of Operations
as of January 31, 2012, 2011 and 2010
† Confidential Treatment Requested