International. One of the most important businesses for the television industry during 2014, and that will surely move the industry, is the one announced by Grass Valley and its dquisition by the Belden group, the latter also owner of the Miranda company.
Miranda is a leading provider of hardware and software solutions for broadcast television, cable, satellite, IPTV and industry. Belden's intention is to combine Miranda with Grass Valley to give customers access to a complete end-to-end solution. Grass Valley will keep its name and the businesses of both will be combined. The new company that emerges from the union of both will be chaired by the current president of Miranda.
The companies clarified that the transaction is subject to regulatory approval in the U.S. and elsewhere, until the closing of the transaction, it remains as before for both companies. Customers should not experience any disruption in service, support or availability of solutions.
Belden had reportedly submitted a $220 million bid to the Francisco Partners fund, which had bought Grass Valley in 2010 for $100 million. It is expected that no later than March 31 the business will be approved by the regulatory entities and the operation will be closed.
