Leitch completes Videotek acquisition

Leitch purchases the video equipment company for $18 million cash.
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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.