10.30.2005 08:00 AM
Harris completes Leitch acquisition

With the requisite approval by Leitch shareholders and others, Harris has completed its previously announced acquisition of Leitch.

Leitch shareholders approved the acquisition with a total cash consideration of approximately $450 million.

Tim Thorsteinson, former president/CEO of Leitch, and his management team will remain with the company as part of the Harris Broadcast Communications Division. He said Leitch would continue to provide products that allow broadcasters to transition to HD digital services but with the added resources and global scale of Harris.

All of Leitch's products — including routers and distribution equipment, signal processing, signal management and monitoring, servers and storage area networks, branding software and post-production editing systems — will be added to the Harris broadcast product portfolio. Branding of individual products and systems is still being worked out.

For more information, visit www.harris.com.

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