Harris Closes Leitch Deal

Harris Closes Leitch Deal
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Harris has closed its purchase of Leitch Technology. In the previously announced deal, Leitch shareholders approved the acquisition by Harris of all of the outstanding shares of the Toronto-based company for $14 per share in cash. Harris paid about $450 million, net of Leitch's cash on hand, the companies stated.
Harris said the acquisition allows it to expand into larger, faster-growing broadcast markets with Leitch products. The Leitch TV product catalog - including routers and distribution equipment, signal processing, signal management and monitoring, servers and storage area networks, branding software and post-production editing systems - will be added to the Harris broadcast portfolio.