Belden Inc, a US-based signal transmission specialist, has made a binding offer to acquire broadcast technology firm, Grass Valley, for $220 million.
Once the deal is complete, Belden will combine Grass Valley with Miranda, a company that it acquired in 2012. The two acquired businesses will operate under the Grass Valley name.
Grass Valley provides technologies including production switchers, cameras, servers, and editing solutions for broadcasters.
Miranda provides hardware and software solutions for the television broadcast, cable, satellite, and IPTV industry.
“By combining Grass Valley and Miranda, we will create the broadcast industry’s largest and most complete portfolio,” said John Stroup, president and CEO, Belden.
“Market demand appears to be stable in the majority of our end-markets. This in combination with the execution of our Market Delivery System should create the catalyst for organic growth and margin expansion. Even after completing the acquisition of Grass Valley, our funnel and balance sheet will remain strong,” Stroup added.