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 $14.00 per share. Total cash consideration paid by Harris, net of Leitch's cash on hand, was approximately $450 million.
All of Leitch's products—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 product portfolio. This combined portfolio serves every segment of the increasingly complex supply chain that brings digital audio, video, and data content to consumers. Leitch currently serves approximately 3,000 television service providers in 100 countries.