"When combined with Miranda, the resulting end-to-end solution will be the most complete and compelling in the industry," Belden says in an earnings report released this morning. Belden purchased Miranda in 2012.
Belden Snaps Up Grass Valley For $220M
Belden, which purchased Miranda in 2012, is swallowing another major broadcast equipment vendor — Grass Valley.
In its earnings report this morning, St. Louis-based Belden says that it has agreed to acquire Grass Valley for $220 million.
“The binding offer is subject to consultation with Grass Valley’s foreign labor works council, after which we will enter into a definitive agreement,” the report says.
“Grass Valley provides innovative technologies including production switchers, cameras, servers, and editing solutions within the mission critical applications of broadcast customers. When combined with Miranda, the resulting end-to-end solution will be the most complete and compelling in the industry,” the report adds.
Belden says it expects the deals to close by March 31.
Comments (4)
Suzi Schrappen says:
February 6, 2014 at 12:52 pm
done just in time for NAB 2014….
Monica Alba says:
February 6, 2014 at 1:00 pm
Interesting! So we’re getting down to a handful of major broadcast manufacturer players: Ross, Belden, Harris & Evertz. You have Sony & Panasonic (and JVC & Toshiba) who also are almost a secondary thought to their consumer division. You have BlackMagic Design cutting a notch in the cheap gear market. And you have the specialty guys like Avid, Viz, Ikegami, Chyron, and the plethora of one or two product manufacturers. Ross & Belden seem to be the contenders. With Harris’ breakaway from their parent company, they need a purchase. If I were them (seeing Ross & Belden), I’d be talking with Evertz about something (a lot of product overlap, but you could filter the weaker stuff). It is interesting to note that both Ross and Harris have no camera product.
Ellen Samrock says:
February 6, 2014 at 1:21 pm
Could be a good marriage. Grass Valley has the technology and industry cred and Belden has an incredible distribution pipeline. Possible result: exciting products, reasonable prices, available through Amazon (or Markertek).
Rebecca Barry says:
February 7, 2014 at 11:49 am
A sign of the times loosing another long time pioneering technology company with GVG headquarters being combined with Miranda and headquartered in Montreal. GVG has been bought and sold so many times its a surprise they still exist. More often than not heavy based R&D technology companies like GVG and Miranda are often made less competitive when purchased by less R&D hardware companies like ADC and Belden.
As for Harris they just need to throw in the broad range broadcast towel for good. They have been in and out roughly four times now starting with the purchase of GE broadcast division in the late sixties. Got out and left a lot of folks high and dry on parts and support. Back in again in the eighties purchasing several companies like ADDA, CVS and parts of the old 3M broadcast division and then another exit. Back again purchasing a group of companies like Leitch, Inscriber and so on again exiting leaving customers high and dry once again on support and parts. While parts and support may not be forever one thing for sure is, you will be forever on the hot seat with management when their large purchase is left dead in the water when Harris makes their every decade exit from broadcasting.
I wish the GVG employees in the home office in Hillsboro, Ore the best and hope everything works out for them and their families and thanks for a job well done.