Tektronix Acquires London Video Firm

Tektronix Inc. has agreed to acquire London-based Lightworks Editing Systems in order to improve its position in the growing video editing market, the company has announced.

The stock-for-stock exchange will issue about 1.7 million Tektronix shares to Lightworks shareholders in exchange for the outstanding shares of Lightworks.

The transaction, subject to approval by Tektronix’ board of directors and other conditions, is expected to close by early June.

Lightworks’ editing systems, including the newly launched Newsworks, will be integrated with Tektronix’ disk storage, networking and archival systems, under the agreement announced Sunday in Las Vegas.

Lightworks, founded in 1990, has U.S. offices in New York and Hollywood. Wilsonville-based Tektronix is a portfolio of measurement, color printing, video systems and network displays businesses.