MONTREAL, July 2, 2020 — Grass Valley announces the completion of its acquisition by private equity firm, Black Dragon Capital, from Belden Inc. The completion of the transaction, announced earlier this year, puts Grass Valley in an ideal position to continue driving innovation as it leads the media and entertainment industry's transition to a cloud-based future and pay-as-you-go business models.

As noted in the original transaction press release, Black Dragon Capital assumes full control of Grass Valley and all of its assets. Belden will maintain a financial interest in Grass Valley and has entered into a multi-year Transition Services Agreement (TSA) to ensure the smooth handover of key business and operational systems from Belden to Black Dragon. Grass Valley is committed to continuing its innovation leadership in media technology to aid customers and partners who are adjusting their businesses to reflect these challenging times.

With the acquisition complete, Grass Valley will continue its day-to-day activities under the leadership of the company's president, Tim Shoulders, without disruption.

"Grass Valley has shown itself to be the transformation partner for our customers time and again, leading the way with the transition from SDI to IP and now again with the move to cloud-based and SaaS solutions," Shoulders said. "By leveraging Black Dragon's experience, Grass Valley will be able to more effectively develop and deliver solutions that lead the media industry through its own digital transformation."

Black Dragon's founder and CEO, Louis Hernandez, Jr. commented, "Grass Valley's strong client base, comprehensive product suite, advanced technology, outstanding service reputation and brand positions them well to lead and inspire this industry during a time of digital disruption. We are excited to be a part of their next phase working closely with the Grass Valley team."

Shoulders continued, "The coming months will see us build on the recent successful launch of GV AMPP, the cloud-enabled, SaaS platform built specifically for broadcast. I'm thrilled to be at the helm as we work closely with Louis and his team to identify the most mutually beneficial ways to meet the needs of those in the media technology industry. There's tremendous opportunity for growth as we transition to a software-defined future."

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For information about Grass Valley solutions and services, please visit grassvalley.com.

About Grass Valley

Grass Valley's end-to-end ecosystem of reliable, open standards-based solutions helps content creators, broadcasters and media organizations to produce brilliant content and build successful media businesses.

We are the trusted partner to many of the biggest and most creative names in the media and entertainment business, enabling the production of rich, high quality content that brings the viewer closer to the action; engages them with the story and connects them with each other.

Headquartered in Montreal, Grass Valley has been engaged in the media technology business for 60 years and is owned by Black Dragon Capital.

About Black Dragon Capital

Black Dragon Capital, LLC ("BDC") is a minority founder led private equity firm making control investments in technology companies. BDC was formed by technology operating executives with a track record of building market leading companies and providing above market investment returns.

Learn more at https://blackdragoncap.com/ or follow on LinkedIn at https://www.linkedin.com/company/black-dragon-capital.