Tech firm Grass Valley has a new owner. Black Dragon Capital has completed the acquisition of the company from Belden.
Belden will maintain a financial interest in Grass Valley and has entered into a multi-year Transition Services Agreement to ensure the smooth handover of key business and operational systems from Belden to Black Dragon.
Black Dragon Capital is backed by former Grass Valley CEO Louis Hernandez, Jr who said he was excited to be working with Grass Valley again. “Grass Valley’s strong client base, comprehensive product suite, advanced technology, outstanding service reputation and brand positions them well to lead and inspire this industry during a time of digital disruption.”
Company president Tim Shoulders will continue to head Grass Valley’s day-to-day operations. “Grass Valley has shown itself to be the transformation partner for our customers time and again, leading the way with the transition from SDI to IP and now again with the move to cloud-based and SaaS solutions,” said Shoulders. “By leveraging Black Dragon’s experience, Grass Valley will be able to more effectively develop and deliver solutions that lead the media industry through its own digital transformation.”
The company will continue to move services to the cloud and pay-as-you-go business models.