- Black Dragon has bought Grass Valley from Belden
- Black Dragon is led by former Avid CEO Louis Hernandez
- Hernandez: Grass Valley positioned to “lead and inspire industry during a time of digital disruption”
Investment firm Black Dragon Capital has completed its acquisition of Grass Valley, bringing an end to the company’s time as a Belden subsidiary.
The transaction, announced earlier this year, sees Grass valley come under the control of former Avid CEO Louis Hernandez, who has outlined aims to accelerate the business into a cloud-based technology leader.
Belden had announced plans to divest of Grass Valley, which it has owned since 2014, amid a major cost-saving restructure announced at the end of 2019. At the time, Grass Valley president Tim Shoulders told IBC365 Belden had “really struggled with the volatility of the Grass Valley business.”
Black Dragon is now the fourth owner of Grass Valley in the last 20 years, following Thomson Multimedia (now Technicolor), Franscisco Partners and Belden.
Belden will maintain a financial interest in Grass Valley and has entered into a multi-year Transition Services Agreement (TSA) to ensure the smooth handover of key business and operational systems from Belden to Black Dragon.
A transition in ownership enables Grass Valley to refocus its investment plans in workflows that are flexible, software and cloud native, and enhance customer opportunities at the forefront of industry change.
That is how Shoulders, who will retain leadership at the company, explained the company’s sale to IBC365 after the takeover was announced: “It will help us streamline our decision making and make better decisions that are in the best interest for our customers because the entire organisation, including our ownership, is aligned around this broadcast market and what our customers want.”
- Read more: Tim Shoulders on Grass Valley’s future
Black Dragon’s founder and CEO, Louis Hernandez, commented: “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. We are excited to be a part of their next phase working closely with the Grass Valley team.”