Originally featured on BroadcastEngineering.com
Leitch completes Videotek acquisition
Leitch has completed the acquisition of Videotek, a privately held video equipment company.
As previously reported, Leitch had entered into a definitive agreement on April 18 to acquire all of Videotek's shares for $18 million cash. The first payment was $13 million paid out of the company’s cash balances. The remaining purchase price will be paid in two installments in six and 12 months. Leitch will account for this transaction as a purchase during the first quarter ending July 31.
For more information visit www.leitch.com.