Francisco Partners bids for Grass Valley
Technicolor has announced that it has received a binding offer to acquire its Grass Valley Broadcast & Professional business from Francisco Partners.
A statement issued by Grass Valley on 26th July 2010 reads:
“To you, our valued customer, we would simply say this: we believe that this is positive news for our company. As we take steps towards becoming an independent business, we believe we can provide even greater focus, flexibility and agility towards our customers. We will also continue to enhance our responsiveness to you, while continuing our focus on bringing to market innovative products, integrated solutions and systems, as well as professional services and customer support structures which meet or exceed your needs in this fast-changing business.
The offer to acquire the business includes the complete product portfolio, the R&D centers and manufacturing facilities, as well as all current customer contracts and support agreements – everything that is part of the Grass Valley Broadcast & Professional business. Most important, because the business depends on its ability to design, manufacture, sell and support its market-leading products, the offer of course includes the great people within Grass Valley, from the design engineers in our R&D centers to the sales and customer support teams around the globe – and the many other people in between.”The company is maintaining a special website to keep customers up to date which can be visited at the link below: