Belden has confirmed in an annual report it filed today that it has acquired SAM “for a purchase price of $75.8 million, plus” an “assumed debt of $18.4 million”, which totals to $94.2m. Although the report does not mention SAM, the acquisition was made on February 8, 2018, the same day Belden announced the SAM acquisition.
“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.”
Eric Cooney said: “The team at SAM has worked hard over the past several years to deliver world class products that have met or exceeded the expectations and needs of our target customers. We believe that becoming part of the Grass Valley family within Belden allows us to give our customers an even greater opportunity to continue growing with us.
“With the backing of Belden, our company has the stability and resources that the industry demands to continue innovating and meet the competition head on.”
Tim Shoulders, president, Grass Valley, added: “With this investment Belden again demonstrates our commitment to the broadcast industry. Adding SAM’s employees and products to the Grass Valley family extends our global reach, makes us more agile, and provides even more domain expertise to enhance Grass Valley’s industry-leading solutions.