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Private-Equity Firm Buying Grass Valley

After a year-and-a-half search, Technicolor has finally found a buyer for its Grass Valley Broadcast & Professional businesses: Francisco Partners, a San Francisco-based private equity firm specializing in technology companies. Francisco Partner has made a "binding offer" for the TV equipment company, according to the parties.

The deal includes all of the Grass Valley businesses, except transmission and headend. Terms were not disclosed. "We are excited about this opportunity as Grass Valley's market leadership is clearly evident," David Golob, partner at Francisco Partners, stated. With nearly $5 billion of capital under management, Francisco Partners is one of the world's largest technology-focused private equity funds.

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