Months of uncertainty at Grass Valley Broadcast & Professional have ended after owners Technicolor received a binding offer from investment firm Francisco Partners.
The offer to the former Thomson-branded company covers the complete portfolio of the company whose interests centre around production and transmission.
In an open letter to customers Jeff Rosica, head of the Grass Valley Broadcast & Professional business, said Francisco Partners work closely with the businesses they acquire to drive long-term value creation. “They have a very strong track record and heritage in this type of transaction, the extraction of a vigorous business from a large parent corporation and creating a solid, independent company”.
Francisco’s other investments have included the internet security firm Barracuda Networks, AMI Semiconductor, carrier systems providers MetaSwitch Networks and micro circuit developers C-MAC MicroTechnology.
