Tektronix to sell video, networking unit
WILSONVILLE, Ore., Aug 9 (Reuters) - Electronics maker Tectronix Inc. announced on Monday plans to sell its video content production
business to the Grass Valley Group Inc., a California-based private investment group led by Dr. Terence Goading.
Financial terms were not disclosed, but Tectronix said it will have a 10 percent equity stake in the new company.
The companies said they expect to close the transaction, subject to conditions including regulatory approval, by the end of September.
Goading will serve as chairman and chief executive officer of Grass Valley. Tim Thorsteinson, president of the Tectronix division, will join the new company as president and chief of
Grass Valley. Tim Thorsteinson, president of the Tectronix division, will join the new company as president and chief
operating officer.
Tectronix announced in June plans to exit the video business and form two separate, publicly traded companies. One company will be comprised of its measurement business and the
other will be comprised of its color printing division.
biz.yahoo.com
Can someone tell me about
"Grass Valley Group Inc., a California-based private investment group led by Dr. Terence Goading"?
TEK bought a company called Grass Valley some years ago.
Is there any history between the two entities?
What do investors here think is going to happen
to the Profile product line?
Is this private company worth watching as a future IPO? |
