Following on from the announcement last week that Belden/Grass Valley had acquired Snell Advanced Media, terms of the deal have now been revealed.
The total cost of the acquisition was detailed in Belden’s filing with securities regulators, which stated that the 8th February acquisition had cost $75.8 million in addition to an assumption of $18.4 million of debt: a total of $94.2 million
A note in the filing said: “The acquisition includes a potential earn-out for which we have not yet estimated a fair value. This acquisition was funded with cash on hand.
“We are in the preliminary phase of the purchase accounting process, including obtaining third-party valuations of certain tangible and intangible assets acquired.
“As such, the purchase accounting process is incomplete and we cannot provide the required disclosures of the estimated fair value of the assets and liabilities acquired for this business combination.”