International. The negotiation between Black Dragon Capital and Belden for Grass Valley has ended. This was announced by the companies after a process initiated in the first months of this year.
The goal now is for Grass Valley to continue to drive innovation, as a leader in the media and entertainment industry's transition to a cloud-based future and pay-as-you-go business models.
As noted in the original press release of the transaction, Black Dragon Capital assumes full control of Grass Valley and all of its assets. Belden will maintain a financial interest in Grass Valley and has signed a multi-year Transition Services Agreement (TSA) to ensure the smooth transfer of Belden's major businesses and operating systems to Black Dragon. Grass Valley is committed to continuing its leadership in media technology innovation to help customers and partners who are adjusting their businesses to cope with these challenging times.
Upon completion of the acquisition, Grass Valley will continue its day-to-day activities under the leadership of the company's president, Tim Shoulders, without interruption.
"Grass Valley has proven to be our customers' transformation partner time and time again, leading the way with the transition from SDI to IP and now again with the shift to cloud-based and SaaS solutions," said Shoulders. "Leveraging Black Dragon's expertise, Grass Valley will be able to more effectively develop and deliver solutions that lead the media industry through its own digital transformation."
Louis Hernandez Jr., Founder and CEO of Black Dragon, commented, "Grass Valley's strong customer base, comprehensive product portfolio, advanced technology, outstanding service reputation and brand, strategically positions it to lead and inspire this industry during an era of digital change. We are excited to be part of their next phase working closely with the Grass Valley team."
