MONTREAL, October 7, 2021 — Grass Valley announces it has signed a US$25 million, multi-year contract with Qvest, the leading consultant, systems architect and media technology provider for digital transformation, that will see the two companies combine their complementary strengths and market offerings to meet the demands of today's dynamic media industry. The deal brings technological, operational and financial benefits to Qvest for standardizing on Grass Valley's advanced production solutions, thus benefiting from enhanced economies of scale, creative commercial models and closer technological collaboration.

"The media and entertainment industry is evolving at an astonishing rate with audiences demanding more content across a greater number of devices," said Christian Massmann, CSO, Qvest. "Our customers are the cornerstone of the M&E space, ranging from news networks to sports broadcasters, video streaming services, and major film studios. These technology-reliant operators demand state-of-the-art solutions that enable them to differentiate their services and maintain a competitive edge. To offer this to our customers, in addition to our technology and transformation expertise we have built up a worldwide partner network of first-class product manufacturers over many years. By also working closer with the Grass Valley team in future, we are able to share market insights, align our technology roadmaps and leverage greater purchasing."

The agreement marks the formation of a global and long-term strategic partnership building on the parties' proven experience, strong customer relationships and extensive market references as trusted advisers to the media and entertainment industry.

Tim Shoulders, CEO and president, Grass Valley added, "We are delighted to be embarking on this next phase of the strategic partnership with Qvest and look forward to jointly realizing the benefits of the win-win enterprise agreement. Over the past 20-years, we have forged a powerful alliance and this next step will further strengthen our technology and business collaboration and will provide customers with world-class solutions that address both current operational challenges and longer-term transformational goals."

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About Grass Valley

We love live! Grass Valley is the leading technology provider for the live media and entertainment market. We work with 90% of the world's major media brands, powering their media centers, mobile production units, 24-hour newsrooms, and sports streaming platforms. As the number one trusted partner in media technology, we enable content owners and service providers to create and deliver compelling live experiences in the most efficient way.

Whether it's IP-native cameras or state-of-the-art cloud production platforms, we're at the forefront of groundbreaking live media innovation. We continue to pioneer market-leading advances based on cloud and software efficiency to transform live content for the streaming era today and in the future.

Headquartered in Montreal, Grass Valley has been engaged in the media technology business for over 60 years. grassvalley.com.

About Qvest

Qvest advises and supports organizations and companies worldwide on all requirements for technology implementations in the context of digital transformation and is a world-leading systems architect, ICT integrator and developer of software products in the innovation-driven media industry. The company's range of services is aligned to the opportunities emerging from an increasingly digital media value chain such as multi-platform content delivery, artificial intelligence, data & analytics, multi-cloud management, and IP infrastructures. Qvest clients include numerous renowned media networks, telecommunication providers, broadcasters as well as companies and organizations from the industrial and public sector. In addition to the headquarters in Cologne and Dubai, Qvest operates further locations in Europe, the USA, the Middle East, Southeast Asia, and Australia. www.qvest.com