Qvest and Grass Valley sign $25 million deal for media and entertainment infrastructure innovation
Grass Valley has signed a $25 million, multi-year contract with Qvest that will see the two companies combine their complementary strengths and market offerings to meet the demands of today’s dynamic media industry. The deal brings technological, operational and financial benefits to Qvest for standardising on Grass Valley’s advanced production solutions, including enhanced economies of scale, creative commercial models and closer technological collaboration.
“The media and entertainment industry is evolving at an astonishing rate with audiences demanding more content across a greater number of devices,” said Christian Massmann, CSO, Qvest. “Our customers are the cornerstone of the M&E space, ranging from news networks to sports broadcasters, video streaming services and major film studios. These technology-reliant operators demand state-of-the-art solutions that enable them to differentiate their services and maintain a competitive edge. To offer this to our customers, in addition to our technology and transformation expertise we have built up a worldwide partner network of first-class product manufacturers over many years. 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.”
Tim Shoulders, CEO and president, Grass Valley, said: “We are delighted to be embarking on this next phase of the strategic partnership with Qvest and look forward to jointly realising the benefits of the 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.”