Leitch Technology is in agreements to purchase Inscriber, a video software company that develops SD and HD television graphics and digital signage products.
The total purchase price is $18 million, including the assumption of $1.5 million in debt. The purchase will be funded through Leitch's existing cash balances. The transaction is expected to be complete in early January 2005.
Inscriber will extend Leitch's position in the market with a complementary product range focused on broadcast graphics, content branding and logo generation. The new acquisition will also streamline workflow for Leitch's Integrated Content Environment.
Inscriber will continue to operate out of Waterloo, Ontario, just southwest of Leitch's Toronto-based offices. Dan Mance, Inscriber's founder and president will become Leitch's chief technical officer. Randy Fowlie, currently the COO of Inscriber, will run the broadcast graphics product line within the organization.
For more information, visit www.leitch.com.