Leitch Technology Completes Acquisition of Inscriber
Jan 11, 2005 3:01 PM
Leitch Technology Corporation (www.leitch.com) a leading supplier of
high-performance video systems for the professional television industry,
announced it has completed the acquisition of Inscriber Technology Corporation, a privately held video software company based in Waterloo,
Ontario.
As previously announced on Dec. 16, 2004, Leitch entered into a
definitive agreement to purchase Inscriber for a total purchase price of
$18 million cash, including the assumption of $1.5 million in debt. Leitch
has funded the acquisition out of the company’s cash balances and will
account for this transaction as a purchase during the third quarter ended
January 31, 2005. The company is scheduled to release its third quarter
results on Feb. 22, 2005.
“We believe the integration of Inscriber’s complementary product
line with the existing Leitch offering will benefit our customers,” said Tim
Thorsteinson, president and CEO of Leitch Technology. “We expect that this
acquisition will allow the company to expand our existing product line
adding broadcast graphics, content branding and logo generation
capabilities. We are extremely proud to have the Inscriber team as part of
Leitch.”
About Leitch
Leitch Technology is a 33-year global leader in the design and distribution
of high-performance video systems for the professional television industry.
Leitch offers products and systems that enable operations of any size to
streamline workflow, achieving a truly Integrated Content Environment for
content production, processing, transmission, management and test and
measurement. With a sole focus on and commitment to the television
industry, Leitch provides premium customer support. www.leitch.com
About Inscriber
Inscriber is a leading provider of broadcast, post-production and digital
signage solutions. With customer installations in more than 110 countries,
Inscriber’s character generators (Inca Studio), real-time 2D/3D broadcast
graphics platform (Inca RTX), networked graphics/automation (Inca AutoCG),
and digital signage solutions (InfoCaster), are the products of choice among
communication experts worldwide. Inscriber solutions are also integrated in
products from Quantel, Canopus and Adobe. Inscriber’s extensive customer
list includes ABC, NBC, CBC, CNN, BBC and Rogers Sportsnet among others.
For more information, please visit www.inscriber.com
