05.19.2004 12:00 PM
Originally featured on BroadcastEngineering.com
Leitch completes acquisition of Videotek
Leitch has completed its acquisition of Videotek, a privately held video equipment company.
As previously announced, Leitch had entered into a definitive agreement April 18 to acquire all of Videotek's shares for a purchase price of about $18 million cash.
The first payment was $13 million paid out of Leitch's cash balances. The remaining purchase price will be paid in two installments. Leitch will account for this transaction as a purchase during the first quarter ending July 31.
For more information, please visit: www.leitch.com.
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