Belden Announces Successful Completion of Grass Valley Acquisition

Apr 01, 2014

ST. LOUIS--(BUSINESS WIRE)-- Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today announced that it has completed the acquisition of the previously announced offer to purchase Grass Valley, a leader within the Broadcast market.

The value of this combination for both customers and shareholders is clear. First, by aligning both resources and strategies, Belden creates a business that broadens its offerings, while realizing the benefits of scale. Second, it will enable the most complete product offering in the broadcast industry. Belden now has the ability to simplify the purchasing and management of highly complex infrastructures. Finally, there is a significant opportunity in the application of the Belden Business System, including LEAN enterprise techniques and the Market Delivery System.

As a result of this successful outcome, the acquisition of Grass Valley will be immediately accretive to adjusted earnings per share with an estimated impact of approximately $0.20 in 2014 and $0.50 in 2015.

A more detailed discussion of the financial impact will occur on Belden's regularly scheduled first quarter 2014 earnings conference call on Thursday, May 1, 2014.

Use of Non-GAAP Financial Information

Adjusted results are non-GAAP measures that reflect certain adjustments the Company makes to provide insight into operating results. These results exclude certain items including purchase accounting effects related to acquisitions, revenue and cost of sales deferrals, severance and other restructuring costs, gains (losses) recognized on the disposal of tangible assets, amortization of intangible assets, gains (losses) on debt extinguishment, and other costs.

Forward Looking Statements

This release contains forward-looking statements. These forward looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Belden, are difficult to predict and may cause actual outcome to differ significantly from any future outcome expressed or implied in the forward-looking statements in this release. While Belden believes that the assumptions made and the expectations reflected in this release are reasonable, no assurance can be given that such assumptions or expectations will prove to have been correct and no guarantee of any nature may be assumed in this respect. The uncertainties include: (1) the businesses of Belden and Grass Valley may not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; (2) expected combination benefits from the transaction may not be fully realized or may not be realized within the expected time frame; (3) the combined revenues and earnings of Belden and Grass Valley following the transaction may be lower than expected; and (4) operating costs and business disruption, including difficulties in maintaining relationships with employees, customers or suppliers, may be greater than expected following the transaction. These risk factors are not exhaustive, and other risk factors, whether known, unknown or unpredictable, could cause Belden's actual results to differ materially from those assumed here. For a more complete discussion of risk factors, please see Belden's Annual Report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission on February 27, 2014. Belden undertakes no obligation to update or revise the forward-looking statements in this release whether as a result of new information, future events or otherwise.

About Belden

St. Louis−based Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at or follow us on Twitter @BeldenInc.


Belden Investor Relations, 314-854-8054

Source: Belden Inc.

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