BLACK DRAGON CAPITAL SIGNS AGREEMENT TO ACQUIRE GRASS VALLEY
PRIVATE EQUITY FIRM, LED BY FORMER AVID BOSS LOUIS HERNANDEZ JR., PLANS TO ACCELERATE MIGRATION TO SOFTWARE-DRIVEN BROADCAST SYSTEMS
Black Dragon Capital has completed an agreement with Belden Inc. in which it will acquire Grass Valley, a leading supplier of broadcast and media solutions for the production and distribution of high quality content worldwide.
The deal, which will be finalised during Q1 2020, will transfer full control of all Grass Valley assets to Black Dragon, which plans to leverage Grass Valley’s intellectual property and talent to drive innovation and lead the industry’s migration to a software-based future.
There are no immediate changes planned to Grass Valley’s operational management structure and Tim Shoulders will continue in his role as president.
Black Dragon’s founder and CEO, Louis Hernandez, Jr. commented,
“We see tremendous opportunity for transformation in the media technology market and believe that Grass Valley is in an ideal situation to lead the market through these changes. Under Belden’s leadership, the Grass Valley solutions portfolio has expanded and the business has developed a discipline that puts them in the upper quartile of the market in profitability. Black Dragon’s experience leading companies through digital transitions will allow Grass Valley to accelerate the next step in its evolution, bringing more innovative products to market faster.”
In his time as CEO of Avid, Hernandez spearheaded the ground-breaking strategy to transition the company’s core product offerings to solutions that enabled smooth and simple content sharing and distribution workflows.