Belden Emerges as Miranda Buyer

5 Jun

SCRI's NewsBriefs

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After months of deliberations, Belden has entered into a definitive agreement to make an all-cash offer to acquire Miranda Technologies for C$17 Canadian per share, representing a C$345M valuation. The offer is supported by the Miranda board and will be presented to Miranda shareholders for approval.  If approved, Belden will emerge as a major player in the broadcast & pro video marketplace, from their historical perception as a provider of cable and wire. In 2010 Miranda acquired IT-based playout pioneer OmniBus Systems and in 2008 acquired routings switcher provider Nvision. This announcement is the culmination of a process of “strategic evaluation”  conducted by Miranda management and shareholders since early this year ( see Miranda “Shtum” on Potential Sale and Miranda Shareholder Calls for New Directors)

In response to a question in the  Analyst Conference Call on the state of the global broadcast pro video marketplace, John Stroup, President and CEO of Belden said:
“We are all watching Western Europe very closely. We are concerned about Europe and how that’s going to play out. I’m optimistic that China is going to come back towards the end of the year. I think the US is going to have to be impacted by whats happening in Europe so I don’t expect a recession in the US but I think we are going to be dealing with slow growth at least until the outcome of the election”.

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