01.16.2005 08:00 AM
Leitch Technology completes acquisition of Inscriber
Leitch Technology has completed the acquisition of Inscriber Technology, a privately held video software company.
Leitch bought Inscriber for approximately $14.6 million in cash, including the assumption of about $1 million in debt.
Inscriber, which maintains installations in more than 110 countries, is expected to contribute approximately $11.3 million in revenue annually, with gross margins of more than 60 percent.
The company will continue to operate out of its Waterloo, Ontario office just southwest of Leitch’s Toronto-based offices. Dan Mance, Inscriber's founder and president, will become the chief technical officer of Leitch. Randy Fowlie, currently the COO of Inscriber, will run the broadcast graphics product line under the Leitch umbrella.
For more information, visit www.leitch.com/ and www.inscriber.com.
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