Harris completes acquisition of Leich

摘要

Harris Corporation and Leitch Technology Corporation have announced that Harris has completed its previously announced acquisition of Leitch following approval by Leitch shareholders and Court approval of the transaction. Leitch shareholders approved the acquisition by Harris of all of the outstanding common shares of the Toronto-based company for a cash price of C$14.00 per share. Total cash consideration paid by Harris, net of Leitch's cash on hand, was approximately US$450 million. "The addition of Leitch's talented workforce, complementary product portfolio and customer base helps establish Harris as the partner of choice for broadcasters upgrading their equipment and software systems to operate in a digital environment," said Howard Lance, chairman, president and CEO of Harris. "No other company offers the breadth of products that span the entire digital media content delivery chain. This acquisition enables Harris to further expand into larger, faster-growing broadcast markets, and we're delighted that Tim Thorsteinson and his leadership team will remain with the company and continue to build on Leitch's success as a business unit within our Broadcast Communications Division." Leitch president and CEO, Tim Thorsteinson, said: "As part of the Harris Broadcast Communications business, Leitch will continue to provide the products that allow the broadcaster to transition to high definition digital services but with the added resources and global scale of one of the world's leading broadcast hardware and software suppliers. We look forward to building on our success and maximising our value to customers as a combined company."