Harris Closes Leitch Deal

Harris Closes Leitch Deal
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Harris Closes Leitch Deal

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.