Grass Valley has announced it has secured a further $220 million in refinancing, which it says will both strengthen the company’s balance sheet and refinance existing debt, as well as continue to develop solutions for the media industry.
Following the refinancing, Grass Valley said it intends to accelerate its investment across the combined Grass Valley Media Universe integrated hardware and software solutions, enabled by AMPP.
The company added that it delivered strong results in 2023, including growing revenue, with its strongest year since 2020 for live production and networking infrastructure hardware, and a significant increase in recurring revenue with AMPP revenues nearly doubling over 2022.
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In addition, earnings increased over 100 per cent while the company hired nearly 200 employees globally and saw its patent portfolio expand due to its continued investments in innovation, said Grass Valley.
“The media industry is still in the early stages of defining the future of live production workflows and this investment further allows Grass Valley to accelerate our market leadership in support of this industry-wide transition,” said Grass Valley’s chairman and CEO, Louis Hernandez Jr.
“With our surging performance from 2023, and now a stronger balance sheet, we intend to accelerate innovation across our entire portfolio, most notably in the AMPP ecosystem, as we begin to scale deployments across our global customer base.
