Technology company Technicolor has received a binding offer for its Grass Valley Broadcast & Professional business from private-equity group Francisco Partners.
Francisco Partners has made an offer for 100% ownership of Grass Valley including its camera, content repurposing, editing, master control, modular, news production, production automation, routing, servers, storage, and switching product lines including their entire product portfolios, the R&D centres and factories around the world, the sales and systems activities and customer support organisation worldwide, as well as the management and administrative support functions dedicated to the business.
Technicolors transmission and headend businesses, which are in the process of being separated from the Grass Valley Broadcast & Professional business, are not included in the offer received. Technicolor will continue the planned divestiture of these businesses, which will be individually operated going forward.
The Grass Valley Broadcast & Professional sale is expected to close by the end of this year.
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