Technicolor announced that it has completed the sale of its transmission business (previously included in Grass Valley) to PARTER Capital Group.
In a previous announcement, Technicolor disclosed that the deal values the transmission business at a “non-material amount,” and Technicolor will not receive any cash as part of the deal. The company said it expects to register a non-cash loss for this disposal in its 2010 financial statements. The transmission business provides products for terrestrial television and radio. It has 291 employees and made a loss in 2009 on revenues of about 43m Euros.
The offer from Parter Capital includes the acquisition of all assets and employees of the transmission business, which comprises the entire product portfolio: television and radio transmitter product lines, antennas, and scientific applications, as well as the associated R&D centers and sites worldwide. The offer also comprises sales and customer support organizations around the world, systems activities, and the various management and support functions.
PARTER Capital Group will also enter a trademark agreement with Technicolor for the use of the Thomson trademark.
Technicolor’s transmission business was previously operated under the Grass Valley name, but was separated out from Grass Valley as a separate division as part of the company’s ongoing restructuring process.
Last year, Technicolor completed the sale of its Grass Valley broadcast business to Francisco Partners.
Earlier this year, Technicolor announced that it received a fully documented binding offer for its video head-end business from the FCDE, an investment fund financed by the FSI (Fonds Stratégique d’Investissement) and major banks and insurance companies operating in France.
However Technicolor decided not to sell PRN, a digital signage provider that had also been put up for sale as part of its restricting program, due to its improved performance.
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Relaeted Content:
Press release: Technicolor completes disposal of Grass Valley transmission business
Technicolor Receives Binding Offer for Video Head-End Business
Technicolor decides not to sell digital signage provider PRN
Technicolor completes sale of Grass Valley to Francisco Partners
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