Leitch Technology has entered into a definitive agreement to acquire Inscriber Technology, based in Waterloo, Ontario. Inscriber develops SD and HD graphics and digital signage software products for the broadcast and video post-production markets.
The deal, valued at approximately $14.6 million, is expected to be complete in January 2005.
Combining Inscriber’s line of broadcast graphics systems, still and clip stores, media servers and digital signage solutions with Leitch’s content production, storage, processing, transmission, and Videotek's test, measurement and monitoring products, will allow Leitch to offer a comprehensive lineup of products, technologies and services for the television and digital signage and display marketplace.
Inscriber will contribute approximately $11.3 million in revenue annually, with gross margins of more than 60 percent. It 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 under at Leitch.
Following the completion of the deal, the two companies will maintain their presence at the 2005 National Association of Broadcasters (NAB) convention, April 18-21, in Las Vegas.