Leitch Technology has entered into an agreement to acquire Videotek,
a test and measurement products company headquartered in Pottstown,
PA.
The companies plan to close the transaction in May 2004, and have
agreed to a purchase price of approximately $18 million. Leitch will
fund this acquisition through its existing cash balances.
Videotek will continue to operate out of its Pennsylvania
headquarters. Philip Steyaert, Videotek co-founder, president and CEO
will continue to run Videotek within the Leitch organization.
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