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.
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