Posts Tagged ‘Parter Capital Group’

More Broadcast Vendor M&A: Screen Service Targeted in €30.5m Takeover Bid

Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
Oct 22 2012

Italian broadcast transmitter vendor Screen Service became the target of a €30.5m takeover bid launched by Monte Bianco, according to a filing with the Milan Stock Exchange.

The bid values Screen Service, which for the first half of its financial year posted a loss of €3.67 on revenue of €25.1m, at a 35% premium over its previous stock price.

Monte Bianco, which is backed by French PE firm HLD, said it had not previously discussed the proposed deal with any of the shareholders of Screen Service, including Opera who own about 30% of the company.

Monte Bianco, who currently has an holds about 1.2% of Screen Service’s shares, said the proposed deal will increase the competitiveness of Screen Service, and ensure its medium and long term growth.

Screen Service is based in Brescia, Italy also has operations in the US and Brazil.  In July 2012, the company paid €1.1m to up its stake in its Brazilian subsidiary to 75% from 60%.

This is the second PE-backed deal for a broadcast transmitter in the last two years.  In April 2011, Technicolor announced that it had sold the Grass Valley transmission business to PARTER Capital Group for a “non-material” amount.  At that time Technicolor said that the Grass Valley transmission business has 291 employees and posted a loss in 2009 of revenues of approximately €43m.

The Harris broadcast communications division (BCD), which supplies broadcast transmitters along with a wide variety of other products, is currently being divested by its parent company, Harris Corporation.  It is believed that Harris BCD posted revenue of approximately $500m in its last fiscal year, but transmitter revenues were not broken out.

Although many in the broadcast industry may perceive transmitter as “old technology,” Harris BCD president Harris Morris said at the IBC 2012 exhibition that the company’s transmitter business are the “tip of the spear” into high growth emerging markets.  According to Morris, when countries in emerging markets make the transition to digital broadcasting one of the first things they buy is a transmitter, so  Harris BCD is able to sell through its additional elements of its product line on the back of these deals.

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Related Content:

Reuters Article: French group launches bid for Italy’s Screen Service

More Broadcast Vendor M&A: Technicolor Closes Deal to Dispose of Grass Valley Transmission Business

Analyzing the Sale of the Harris Broadcast Division

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More Broadcast Vendor M&A: Grass Valley Sells Systems Integration Business to German Private Equity Firm

Broadcast Vendor M&A | Posted by Joe Zaller
Aug 07 2012

Leading broadcast technology vendor Grass Valley announced that it has sold the assets and resources of its systems integration (SI) team based in Weiterstadt, Germany to  BTS broadcast technology solutions GmbH. Terms of the deal were not disclosed.

BTS is owned by Parter Capital, a German private equity firm.  This is the second Grass Valley-related deal for Parter Capital.  In May 2011  Parter acquired the Grass Valley transmission business and the right to use the Thomson brand from Technicolor for a “non-material amount.”.

The transaction involves the sale of Grass Valley’s system engineers and specialists that design and build outside broadcast (OB) vehicles as well as production and broadcast facilities across Europe, the Middle East, and Africa (EMEA).  Grass Valley says it will continue to work with BTS, as well as other SIs around the world.

Grass Valley says the deal will reinforce its “strategy to focus on IT-centric software and hardware systems, while building a strong partners ecosystem,” and that it will work with BTS

“As an investment company, we saw the potential for growth as Grass Valley concentrates on its core businesses, and we are confident we can continue to make BTS broadcast technology solutions GmbH a global provider of high-quality leading solutions for fixed and remote production and broadcast facilities,” said Dr. Rüdiger G. Terhorst, Managing Director at PARTER Capital Group. ”
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Related Content:

Press Release: Germany’s PARTER Capital Group Acquires Grass Valley German Systems Integration Business http://dcft.co/TeA92U

More Broadcast Vendor M&A: Technicolor Closes Deal to Dispose of Grass Valley Transmission Business

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More Broadcast Industry M&A: Technicolor Sells Playout & Services Business to Ericsson

Broadcast Vendor M&A | Posted by Joe Zaller
Mar 13 2012

Technicolor announced that it is selling its broadcast services business to Ericsson for €19m.  The deal also includes a potential earn-out of up to €9 million based on 2015 revenues of the broadcast services business.  The deal is scheduled to close in mid-2012.

Technicolor’s Broadcast Services activity has 900 employees in France, The UK and the Netherlands.  It provides managed play-out services, live production support and media asset management services.

Technicolor says the transaction will contribute to its ongoing efforts to leverage its existing portfolio, optimize its investments allocation and free cash flow generation, and help reduce its debt level.

This is the latest of broadcast-related divestitures by Technicolor, and the first one for which it appears to have received any cash up front as part of the deal.  The company’s previous divestitures which include the sale its Grass Valley head-end business, the sale of its transmission business to PARTER Capital Group, and the sale of its Grass Valley broadcast business to Francisco Partners, were all done for “nominal consideration”.

Technicolor CEO Frederic Rose said: “This transaction is consistent with Technicolor’s strategy to focus on media monetization solutions, new growth businesses, and strengthen its balance sheet. For Ericsson, managed services are a core business and after completion of this divesture, the Broadcast Services activity will benefit from the company’s know-how and global scale necessary to remain a key player in the worldwide Broadcast industry”.

“As the TV industry is undergoing fundamental changes with the transition to multi-platform, on-demand television, teaming up with a trusted partner enables broadcasters to meet the increasing commercial and technological complexity and competition in the TV market”, said Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services, Ericsson. “We combine our service and technology leadership with strategic investments in playout operations, broadcast capability and competence.”

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Related Content:

Press Release: Technicolor to sell its Broadcast Services activity to Ericsson

More Broadcast Vendor M&A: Technicolor Closes Deal to Dispose 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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More Broadcast Vendor M&A: Technicolor Completes Disposal of Grass Valley Head-End Business

Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
May 04 2011

Technicolor has completed the final element of its disposal of the Grass Valley broadcast business. The company announced that it has finalized the sale of the former Grass Valley head-end business to FCDE, an investment fund financed by the FSI (Fonds Stratégique d’Investissement) and major banks and insurance companies operating in France.

Similar to the previous Grass Valley disposals, includingthe sale of the Grass Valley to Francisco Partners, and the sale of its transmission business to PARTER Capital, Technicolor said “the offer values the head-end business for a non-material amount.”

Technicolor’s head-end business offers a variety of video compression and content processing solutions. It has 525 employees and operates in 15 countries. In 2009 the head-end business recorded revenues of €61m, which Technicolor says was 16% of the total Grass Valley perimeter revenues and 20% of its operating loss.

 

 

Key Elements of the Deal

  • The scope of the offer includes all assets and employees of the head-end business. This comprises the entire product portfolio, including video encoders/decoders, MPEG processors, video servers, datacasters, network management, monitoring and switching product lines. The offer also comprises sales and customer services functions as well as the management and support functions.
    The FCDE will also enter a trademark agreement with Technicolor for the use of the Thomson trademark
  • The offer values the Head-end business for a non-material amount
  • Based on the book value of the assets, the Group expects to register a non-cash loss for this disposal

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Related Content:

Press Release: Technicolor completes the disposal of Grass Valley Head-end business to the FCDE

Technicolor Receives Binding Offer for Video Head-End Business

Press release: Technicolor completes disposal of Grass Valley transmission business

Technicolor decides not to sell digital signage provider PRN

Technicolor completes sale of Grass Valley to Francisco Partners

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More Broadcast Vendor M&A: Technicolor Closes Deal to Dispose of Grass Valley Transmission Business

broadcast technology market research | Posted by Joe Zaller
Apr 05 2011

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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More Broadcast Vendor M&A: Technicolor Receives Binding Offer for Video Head-End Business, Says Asset Disposal Program is Now Complete

Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
Mar 03 2011


Technicolor continues to divest non-core broadcast video assets. The company has already sold Grass Valley to Francisco Partners, and it has received an offer for its transmission business from Pater Capital, a German private equity firm.

The remaining piece of Technicolor’s foray into broadcast technology is the company’s video head-end business, currently operated under the Thomson Video Networks brand. Now it looks like this business will also be sold soon.

Technicolor says it has received a fully documented binding offer for the 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.

Similar to the previous Grass Valley disposals, Technicolor says “the offer values the Head-end business for a non-material amount.”

Technicolor’s head-end business offers a variety of video compression and content processing solutions. It has 525 employees and operates in 15 countries. In 2009 the head-end business recorded revenues of €61m, which Technicolor says was 16% of the total Grass Valley perimeter revenues and 20% of its operating loss.

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Key Elements of the Offer

 §  The scope of the offer includes all assets and employees of the Head-end business. This comprises the entire product portfolio, including video encoders/decoders, MPEG processors, video servers, datacasters, network management, monitoring and switching product lines. The offer also comprises sales and customer services functions as well as the management and support functions.

§  The FCDE will also enter a trademark agreement with Technicolor for the use of the Thomson trademark.

§  The offer values the Head-end business for a non-material amount.

§  Based on the book value of the assets, the Group expects to register a non-cash loss for this disposal in its 2010 financial statements.

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The transaction is expected to close in H1 2011, subject to the relevant customary regulatory administrative approvals and consultations. 

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Technicolor Receives Binding Offer for Grass Valley Transmission Business as Divestment Program Continues

broadcast industry trends, Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
Jan 04 2011

Technicolor, which continues to divest non-core assets, announced that it has received a fully documented binding offer from PARTER Capital Group, a private equity investment consultancy firm based in Germany, for the acquisition of the Transmission business, operating under the Thomson Broadcast brand.

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.  Earlier this week, Technicolor announced that it has completed the sale of its Grass Valley broadcast business to Francisco Partners, another private equity firm.

The transaction is expected to close in the first quarter of 2011, subject to the relevant customary regulatory administrative approvals and consultations.

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You can read the full Technicolor press release about the deal here.

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