Grass Valley™ is pleased to announce that Francisco Partners, a leading technology-focused investment company, has completed the closing process with Technicolor and finalized the acquisition of the Grass Valley Broadcast & Professional business. As of January 1, 2011 Grass Valley began doing business as an independent company, under the trade name “Grass Valley”.

Terms of the sale include 100 percent ownership of the current Grass Valley Broadcast & Professional business. This includes the camera, content repurposing, editing, master control, modular, news production, production automation, production switchers, routing, and video servers product lines including their entire product portfolios, the R&D centers and factories around the world, the Sales & Systems activities and Customer Support organization worldwide, as well as the management and administrative support functions dedicated to the business.

To help customers and technology partners to understand the specifics of the acquisition, Grass Valley has established a special website (www.grassvalley.com/greenergrass) with the latest, most accurate and complete information. This site will allow you to view or download a number of pertinent public documents including all published press releases, FAQs, an open letter from Grass Valley management, background information on Francisco Partners, and more.

There’s also a special email address for questions or comments at [email protected].

About Francisco Partners
With over $7 billion of capital under management, Francisco Partners is one of the world’s largest technology-focused private equity funds. The global firm is focused exclusively on investments in technology and technology-enabled services businesses with a strong foundation and secure market position. Francisco Partner targets investments in private companies, with transaction values ranging from $30 million to $2 billion. Since its inception, Francisco Partners has invested in excess of $4 billion of equity capital in over 50 technology companies.

For additional information about Francisco Partners, please visit www.franciscopartners.com

About Grass Valley
With a rich history serving the broadcast and professional video industries, the Grass Valley name is synonymous with innovation, leadership, and performance. With a full range of products and services supporting many of the world’s most high-profile television events, Grass Valley offers the most comprehensive portfolio of flexible and cost-effective digital technologies and systems available. Customers deploying Grass Valley solutions include most of the world’s leading broadcast and teleproduction facilities, independent video professionals, as well as emerging content creators and distributors providing broadband, telecommunications, and transmission services. When you’re watching news, sports, or entertainment programming, whether on a TV, the Web, or a mobile phone, you’re watching Grass Valley at work.

For information about Grass Valley products, please visit www.grassvalley.com