Belden will sell Grass Valley
In March 2014, Belden bought Grass Valley to add its existing portfolio of networking, cable and connectivity product lines.
Grass Valley manufacturers a range of broadcast TV equipment, including switchers, signal processors, playout and routing gear.
“We completed a rigorous strategic review of our portfolio of businesses, and today’s announcement marks an important outcome. We concluded that it is in the best interests of our shareholders, customers, and employees to separate Grass Valley from Belden,” said John Stroup, Belden’s president, CEO and chairman, in a statement.
The move, along with other cost reductions, is expected to save the company $40 million a year as revenues slumped in the third quarter of 2019.