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Sept. 1, 2005 / 8:30 AM

Harris paying $450 million for Leitch

MELBOURNE, Fla., Sept. 1 (UPI) -- Florida's Harris Corp. has agreed to pay about $450 million to buy Leitch Technology Corp., a video system maker.

Harris, which makes digital broadcasting systems, said the deal would close in about two months.

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"The acquisition further positions our company to lead the broadcast industry's transition to high-definition digital services," said Howard L. Lance, chairman, president and chief executive officer of Harris.

"The acquisition of Leitch, following our acquisition of Encoda Systems in November 2004, clearly establishes Harris as the company that broadcasters turn to as they upgrade

their equipment and software systems to operate in a digital environment."

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