Grass Valley (company)
 | |
| Subsidiary | |
| Industry | Broadcasting |
| Founded | April 7, 1959 |
| Headquarters | Montreal, Quebec, Canada |
Key people | Marco Lopez, President; Luc St-Georges, COO; Michael Cronk, SVP, Strategic Marketing; Sydney Lovely, SVP, Research & Development; Gilmond Lapointe, SVP, Services & Support; Steve Ronnenberg, SVP, Sales & Marketing |
| Parent | Belden |
| Website | Grass Valley |
Grass Valley is a Canadian manufacturer of television production and broadcasting equipment, including playout, video cameras, editing and media storage, and character generators. Based in Montreal, Quebec, it was formed by the March 2014 merger of the Grass Valley Group with Miranda Technologies—which were both acquired by Belden in 2014 and 2012 respectively.
History
Grass Valley Group was founded as a tiny research and development company in 1959 by Dr. Donald Hare in the small town of Grass Valley, California, in the foothills of California's Sierra Nevada range. Hare chose Grass Valley after learning about it from his friend, Charles Litton, Sr.. In 1964, Grass Valley demonstrated its first video product, a Video Distribution Amplifier in a hotel room at the National Association of Broadcasters convention. By 1968, the Grass Valley Group had introduced its first vision mixer, the flagship product that helped build the company's reputation.
The company merged with Tektronix in 1974, and with the creativity and vision of Rick Mathewson was very successful for the next fifteen years. When Tektronix divested its printing, video and networking divisions it sold the video business to a private investor, Terry Gooding of San Diego, California, who reincorporated it under the name Grass Valley Group, Inc. The sale closed on September 24, 1999.
In 2002, the French electronics giant Thomson Multimedia, now known as Technicolor SA, acquired Grass Valley Group.[1] After coming under the ownership of Thomson, Grass Valley Group was forced to merge its product line with the existing professional and broadcast products of its new parent company, with mixed results.
After the financial crisis of 2008, Thomson defaulted on its financial covenants and was forced by its creditors to divest its Grass Valley business, PRN and other manufacturing entities. On January 29, 2009, Thomson announced that they were putting the Grass Valley division up for sale.[2]
In 2010, the Grass Valley business unit, not including the head-end and transmission businesses, was acquired by private equity firm Francisco Partners and resumed operating as an independent company with offices in San Francisco, California on January 1, 2011.[3] The company announced in August 2013 it would move its headquarters to Hillsboro, Oregon, later that year to an existing office.[4]
On March 31, 2014, the company was acquired by Belden Inc. from Francisco Partners and merged with Miranda Technologies,[5] which Belden acquired on July 27, 2012.[6] The merged company operates as Grass Valley.
References
- ↑ GVG History Timeline: 1959-2009 Retrieved 2014-03-10
- ↑ "Thomson to Sell Grass Valley". TV Technology. January 29, 2009. Retrieved 2011-10-27.
- ↑ "Francisco Partners Completes Acquisition of Grass Valley". tvtechnology.com. January 3, 2011. Retrieved 2011-01-03.
- ↑ Rogoway, Mike (August 29, 2013). "Grass Valley, a video technology company with roots at Tektronix, moves HQ from San Francisco to Hillsboro". The Oregonian. Retrieved 30 August 2013.
- ↑ "Belden Set To Acquire Grass Valley, Merge Ops With Miranda". sportsvideo.org. February 6, 2014. Retrieved 2014-04-16.
- ↑ "Belden reveals why it bought Miranda". TV Technology. September 9, 2012. Retrieved 2014-04-16.
Further reading
- 2002. "Share the News Three New Systems from Grass Valley Group Are Intended to Facilitate Work Flow". Broadcasting & Cable. 132: 35.
- 2001. "Equipment Purchase — French Manufacturer Thomson Multimedia Acquires Grass Valley Group". Broadcasting & Cable. 131: 12.