Ross Video targets $1B revenue by 2030, shifts from IPO plans

Ross Video will pause plans for a 2025 initial public offering and seek private equity investment as part of a strategy to reach $1 billion in revenue by 2030.

The Canadian broadcast technology manufacturer reported 33 consecutive years of sales growth, averaging 17% annually. The company deliberately slowed research, development and sales investments while evaluating the IPO path.

“Public markets reward mediocrity,” said David Ross, CEO of Ross Video, in a statement to NewscastStudio. “Ross Video is about building extraordinary solutions that redefine industries. Private equity allows us to stay true to that mission.”

The company plans to expand its workforce to more than 2,000 employees by 2030, with half focused on research and development. This marks a return to the company’s growth-focused approach after temporarily reducing investments during IPO considerations.

“Pulling back on growth and innovation isn’t who we are,” Ross said. “Private equity allows us to double down on what makes Ross Video unique while positioning us to achieve our most ambitious goals yet.”

The new strategy, dubbed the Big Hairy Audacious Goal (BHAG), prioritizes reinvestment in R&D, acquisitions and product development.

The strategic plan includes:

• Expanding research and development capabilities
• Pursuing strategic acquisitions focused on technology integration
• Strengthening market positions across broadcast, live events and corporate video sectors

This strategy builds on Ross Video’s established growth pattern. The company’s approach emphasizes technology integration over pure revenue gains, resulting in expanded product capabilities across multiple broadcast sectors.

Ross Video continues its acquisition strategy, with its 21st purchase nearing completion. The company’s acquisition history spans two decades, with 20 completed acquisitions and its 21st pending closure. Recent purchases expanded the company’s graphics and software capabilities.

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The 2020 acquisition of Bannister Lake added broadcast data integration tools, while earlier acquisitions such as Piero brought sports graphics technology. The company’s most recent completed acquisition, D3 LED in 2023, added LED control and processing systems to its portfolio.

Ross Video integrates acquired technologies into its ecosystem while maintaining individual brand identities, according to Ross. The manufacturer’s pattern focuses on acquiring specialized technology rather than pursuing revenue growth through consolidation.

The manufacturer’s product line includes OverDrive and XPression, which hold top market positions in their categories. Ross Video aims to elevate additional products to first or second position globally.

While an IPO remains possible in the future, the company’s immediate focus is securing private equity partners who align with its long-term vision. This shift allows the acceleration of investments without quarterly earnings pressure, according to Ross.

“Our story has always been about innovation and customer trust,” Ross concluded. “This BHAG is the next step in building a company that will lead our industry for decades to come.”

The revenue target continues the company’s pattern since its 1974 founding of doubling revenue every five years.