Grass Valley closes $25 million deal with Qvest

Qvest will standardize Grass Valley’s production solutions as part of a $25 million multi-year contract.

The agreement, Grastal notes, brings technological, operational and financial advantages to Qvest, “thus benefiting from enhanced economies of scale, creative commercial models and closer technological collaboration.” It also marks the formation of a “global and long-term partnership” based on the “experience” of both parties, their customer relationships and market position.

Christian Massmann, CSO of Qvest, justifies the agreement in its strategy to create a global partner network with “first -class product manufacturers.” “By also working closer with the Grass Valley team in future, we are able to share market insights, align our technology roadmaps and leverage greater purchasing,” he stresses.

Andererseits, Tim Shoulders, CEO and president of Grass Valley, hopes that this alliance will allow them to “jointly realizing the benefits” derived from “a win-win enterprise agreement.” “Over the past 20-years, we have forged a powerful alliance and this next step will further strengthen our technology and business collaboration and will provide customers with world-class solutions that address both current operational challenges and longer-term transformational goals,” he concludes.

Grass Valley rebrands

Grastal has revamped its strategic focus with a new corporate identity and a marketing campaign called “We Love Live“.

Tim Shoulders explains the company’s renewed purpose: “Today, we are strengthening our mission to support our customers as they transition to the future of media and entertainment through IP, software, and cloud-based technologies. We are focused on giving today’s media companies the agility they need to produce and deliver compelling live content and guide them towards flexible operating models that embody choice and streamlined workflows to enable economic transformation.”

This strategic move has been undertaken with the support of Black Dragon Capital, an investor described by Grass Valley as “progressive and visionary.”