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Technology Stocks : Tektronix

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To: Jay King who wrote (159)	9/14/1998 8:35:00 PM
From: kgreen	Read Replies (1) of 193

Don't know if this is common knowledge, but Tektronics is in negotiations to merge with Avid. Tek announced an alliance with Avid on September 3rd. At the same time, Tek laid off about 30 people and announced it is getting out of the non-linear editing business (suspending sale of its VIP Lightworks editing stations). I'm told Tek is losing tons of money on the broadcast side and wants out of the broadcast business. It would give that up to Avid. This is a great deal for Avid because Tek makes Avid's biggest newsroom computer system competitor (Newstar). Absorbing Tek gets rid of Newstar and creates a virtual monopoly for Avid. Tek and Avid are both having a hard time.. so two big but suffering companies merge together and create new synergies.. and eliminate each other as competition. I would suspect that the merger would be viewed as a good deal for Tek because it will look as if Tek is getting the support it needs. Avid, of course, looks as if it is creating a nice little monopoly. I'm told the merger is a done deal, but I have yet to see it on the business wires. Kath

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