At a press event on Sunday, Leitch ( www.leitch.com
) announced that it had just finalized the acquisition of Videotek, the maker of test and measurement equipment. Company president and CEO Tim Thorsteinson (pictured) says the purchase cost the company $18M and should be finalized within the next 30 days.
The acquisition gives Leitch a new business line, as it hadn't previously offered test and measurement equipment. The two companies share many of the same distribution channels. According to Thorsteinson, the test and measurement equipment will continue to be branded under the Videotek banner. Additional Videotek products will be marketed under the Leitch name.