GRASS VALLEY GROUP RAISES $36 MILLION

GRASS Valley Group, a digital media leader, have announced that a group of investors led by a Lazard private equity affiliate has made a $36 million equity investment in the company.
Terms of the financing were not released. The equity funding will provide capital for growth anticipated from the Grass Valley Group’s new products, enabling the company to lengthen their lead in the broadcast market, make strategic acquisitions, and hasten their entry into new markets. In addition to the Lazard private equity affiliate, investors include Dr. Terence J. Gooding, executive chairman of the Grass Valley Group.
The announcement comes amid a continued, sustained success for the Grass Valley Group’s products. In late April, the company announced a three-year, $25 million strategic technology agreement with NBC to deploy Grass Valley solutions in support of the network’s company-wide central casting, news production, media asset management, and high-definition playback efforts. (GB)