Belden has submitted a binding offer to purchase Grass Valley for $220 million (€160.6m). As reported in sister publication TVBEurope, Belden intends to combine Grass Valley with Miranda Technologies, who last year was awarded a patent for a new process to reduce audio delay on its range of NVISION 8500 series hybrid routers.
Grass Valley’s name will remain.
The transaction is subject to regulatory approval in the US and elsewhere and is to consultation with Grass Valley’s foreign labour works council, after which Belden will enter into a definitive agreement. “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, president and CEO of Belden.
“Market demand appears to be stable in the majority of our end-markets,” added Stroup. “Even after completing the acquisition of Grass Valley, our funnel and balance sheet will remain strong. We are confident that these initiatives position us to perform well, and we remain comfortable with our previously announced earnings outlook for 2014.” Belden will continue to promote the Grass Valley brand under the leadership of Miranda president Marco Lopez (pictured above).
Belden believes that the ability to purchase an end-to-end solution from the combined businesses will reduce complexity and increase functionality, ease-of-setup, and maintenance and operability. The company aims to provide access to the most comprehensive, innovative products in the broadcast infrastructure industry through one organisation.