ST. LOUIS—A week after it announced its acquisition of Snell Advanced Media, Belden revealed that it paid a litte more than $94 million for the company, according to an SEC filing.
The purchase price is $75.8 million, plus assumed debt of $18.4 million, totaling $94.2 million. Belden cautioned the SEC that it cannot yet report the estimated fair value of the assets because the accounting process is ongoing.
“The acquisition includes a potential earn-out for which we have not yet estimated a fair value,” Belden told the SEC. “This acquisition was funded with cash on hand. 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.”
(This article has been updated to correct the purchase amount)
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Tom has covered the broadcast technology market for the past 25 years, including three years handling member communications for the National Association of Broadcasters followed by a year as editor of Video Technology News and DTV Business executive newsletters for Phillips Publishing. In 1999 he launched digitalbroadcasting.com for internet B2B portal Verticalnet. He is also a charter member of the CTA's Academy of Digital TV Pioneers. Since 2001, he has been editor-in-chief of TV Tech (www.tvtech.com), the leading source of news and information on broadcast and related media technology and is a frequent contributor and moderator to the brand’s Tech Leadership events.
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