Thomson Closes Deal To Acquire Grass Valley Group
Company becomes a leading supplier of content creation, production and distribution systems; to showcase combined products at NAB booth #19524
Paris, France, March 4, 2002 – Thomson (Paris Euronext: 18453) (NYSE: TMS) today extended its digital media leadership with the announcement that it has formally acquired the Grass Valley Group, a privately held company headquartered in Nevada City, California. Having received regulatory approval in both Europe and the United States, the Boards of both companies have voted to approve the transaction, which is valued at approximately $172 million (U.S.).
By combining the products, technologies, and services of the Grass Valley Group with those of its Broadcast Solutions business, Thomson becomes one of the leading providers of digital content creation, production, and distribution systems to pre-eminent news, information, and entertainment companies worldwide. It also creates one of the most ready sources of technologies for leveraging broadband opportunities as broadcast, IT, and Internet technologies converge.
"Whether it's cinema, broadcast, or broadband, the Thomson Broadcast Solutions business offers the open, flexible platforms upon which you can confidently build your digital media facility and your future business plans. No other company has the singular digital media focus, and integrated vision that Thomson does," said Marc Valentin, Vice President of the Broadcast Solutions business of Thomson. "Our current and future customers can now rely on a truly unique end-to-end product portfolio and an unrivaled global support organization."
"We're thrilled to be going to NAB as a company dedicated to providing the focus, solutions, and research and development necessary to realize the workflow and capital efficiencies our customers are demanding," said Tim Thorsteinson, president and CEO of the Grass Valley Group. "What customers have come to expect from the Grass Valley Group – technology leadership and world-class customer support – have only been strengthened through this acquisition."
COMBINED NAB BOOTH LOCATED IN NEW LVCC SOUTH HALL
Thomson also announced today that it would house its Broadcast Solutions products, including those of the Grass Valley Group, as well as its Nextream product lines in one booth (#19524) at the upcoming National Association of Broadcasters convention (NAB 2002) in Las Vegas. The booth will be located on the second floor of the newly constructed South Hall of the Las Vegas Convention Center. (For the exact location of the booth, please visit http://www.nab.org/conventions/vr2/floorplan-launch.html)
Product demonstrations on the Thomson booth at NAB '02 will range from cameras and film imaging systems to networked servers, shared-storage systems, switchers, and media networking and control products that include routers, modular products, and facility control and automation systems. Other products featured on the stand will include solutions for digital news production, high-definition presentation, and Internet distribution.
Certain statements in this press release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic and business conditions, consumer electronics markets, and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson's filings with the U.S. Securities and Exchange Commission.
About Thomson
With sales of 10.5 billion Euros (U.S. $ 9.3 billion) in 2001 and 73,000 employees in more than 30 countries, Thomson (Paris Euronext: 18453) (NYSE: TMS), provides a wide range of video (and enabling) technologies, systems, finished products and services to consumers and professionals in the entertainment and media industries. To advance and enable the digital media transition, Thomson has five principal activities: Digital Media Solutions, Displays and Components, Consumer Products, Patents and Licensing and New Media Services. The company distributes its products and services under the THOMSON, RCA and TECHNICOLOR brand names. For more information: www.thomson-multimedia.com.
For the latest Grass Valley Group product information visit www.grassvalleygroup.com.