The tech icon is now led by Alain Andreoli (right), who says the revamped firm’s emphasis on video production and infrastructure products, along with its design and development services, should mean a return to a positive bottom line “fairly quickly.” He says they believe “there is an opportunity to offer more complete solutions instead of only point products.”
Francisco Partners, the new owners of Grass Valley, wants the industry and Grass Valley’s customers to know it is committed to bringing Grass Valley back to its glory days and is prepared to invest millions over the long haul to make that happen.
The new president and CEO of the broadcast equipment vendor is an operating partner of Francisco Partners, the private equity firm that bought Grass Valley from Technicolor last month for $80 million and other considerations. Jeff Rosica will stay on as EVP and chief sales and marketing officer.
Technicolor completes the sale of the TV production tech firm to Francisco Partners for an $80 million, six-year promissory note. Jeff Rosica remains in charge.