Belden has announced plans to dispose of its Grass Valley media technology business.
It follows a strategic portfolio review that also put forward a cost reduction programme that’s expected to result in $40 million a year savings.
“We concluded that it is in the best interests of our shareholders, customers, and employees to separate Grass Valley from Belden,” said John Stroup, President, CEO, and Chairman of Belden Inc. “This will enable Grass Valley to more effectively execute its strategic plan and pursue growth opportunities. Further, this separation will simplify Belden’s portfolio and improve organic growth and revenue visibility.”
Belden will remain active in industrial automation, cybersecurity, broadband & 5G, and smart buildings.
In a statement, Grass Valley said the move was a positive one, and the company made an attractive investment to those interested in the media tech space.
