Subsequent to the end of Q3/19, Belden, Inc., made the decision to pursue the divestiture of Grass Valley. Belden’s Board of Directors has approved the divestiture of the business, and the probability is high that the divestiture will be consummated.
John Stroup, President, CEO, and Chairman of Belden Inc., said, “We completed a rigorous strategic review of our portfolio of businesses, and today’s announcement marks an important outcome. We concluded that it is in the best interests of our shareholders, customers and employees to separate Grass Valley from Belden. This will enable Grass Valley to more effectively execute its strategic plan and pursue growth opportunities. Further, this separation will simplify Belden’s portfolio and improve organic growth and revenue visibility.”
Stroup continued, “The remaining Belden portfolio will consist of strong businesses in attractive industrial and enterprise markets, each aligned with powerful secular trends. These include industrial automation, cybersecurity, broadband and 5G, and smart buildings. This portfolio, while smaller, offers improved predictability and multiple platforms for accelerating organic growth and margin expansion. In addition, we continue to see numerous opportunities for disciplined capital deployment as we invest in compelling inorganic opportunities in these robust markets.”