FCDE offer for Grass Valley Head-end
February 24, 2011
Technicolor has received a binding offer from the FCDE for the acquisition of the Head-end business, operating under the Thomson Video Networks brand. The FCDE (Fonds de Consolidation et de Développement des Entreprises) is an investment fund financed by the FSI (Fonds Stratégique d’Investissement) and major banks and insurance companies operating in France. Its mission is to support the development of high potential small- and mid-cap companies.
As announced in early 2010, Grass Valley has been reorganised around three distinct activities: Broadcast, Transmission and Head-end, and is undergoing a restructuring launched in March 2010. The sale of the Broadcast business to Francisco Partners was completed on December 31st, 2010, while the sale of the Transmission business to PARTER Capital Group was announced on December 23, 2010.
The transaction is expected to close in H1 2011, subject to the relevant customary regulatory administrative approvals and consultations.