|[February 06, 2014]
Grass Valley Receives Binding Acquisition Offer from Belden
SAN FRANCISCO & HILLSBORO, Ore. --(Business Wire)--
Francisco Partners, a leading technology-focused private equity
investment firm, today announced that its portfolio company has received
a binding acquisition offer from Belden, Inc. (NYSE:BDC) to acquire
Grass Valley (News - Alert). Based in Hillsboro, Ore., Grass Valley is one of the
world's leading providers of broadcast equipment solutions.
"We are pleased to have partnered with Grass Valley's management team to
streamline the company's offerings and improve its performance. The
contemplated combination of Belden's Miranda business unit and Grass
Valley will position them to become the clear leader in the broadcast
equipment market by delivering the most complete solution to
broadcasters worldwide," said David Golob, a partner at Francisco
Partners and Grass Valley director.
Francisco Partners acquired Grass Valley in 2010. Under Francisco
Partners' ownership, the company substantially improved profitability
while also rejuvenating its product portfolio and divesting
non-strategic lines of business.
"We are extremely excited to have Grass Valley join the Belden family.
By combining Grass Valley and Miranda, we will create the broadcast
industry's largest and most complete portfolio," said John Stroup, CEO
About Francisco Partners
Francisco Partners is a global private equity investment firm tht
specializes in investments in technology companies. Since its launch
over a decade ago, FP has raised approximately $7 billion and invested
in more than 100 technology companies, making it one of the most active
investors in the industry. The firm invests in transaction values
ranging from $50 million to over $2 billion, where the firm's deep
sub-sector knowledge and operational expertise can help a company
realize its full potential. For further information, please visit: www.franciscopartners.com.
About Grass Valley
For more than 50 years, the Grass Valley® name has been synonymous with
innovation, leadership, and performance. With an eye to the future, we
are committed to advancing our industry by being a strategic and trusted
partner. Leveraging IP technology with our proprietary knowledge of
media processing and storage, we develop product and service solutions
that deliver unmatched interoperability and financial efficiency, and
have the flexibility to change and grow as business evolves. When you're
watching news, sports, or entertainment programming-whether on a TV, the
web, or a mobile device, you're watching Grass Valley at work in today's
connected world. For further information, please visit www.grassvalley.com.
St. Louis-based Belden Inc. delivers a comprehensive product portfolio
designed to meet the mission-critical network infrastructure needs of
industrial, enterprise and broadcast markets. With innovative solutions
targeted at reliable and secure transmission of rapidly growing amounts
of data, audio and video needed for today's applications, Belden is at
the center of the global transformation to a connected world. Founded in
1902, the company is headquartered in St. Louis and has manufacturing
capabilities in North and South America, Europe and Asia. For more
information visit www.belden.com.
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