BEAVERTON, Ore., October 1, 2002 - Tektronix, Inc. (NYSE: TEK), a leading innovator of test, measurement, and monitoring equipment, announced today that it has finalized the acquisition to obtain Sony's interest in its Japanese joint venture, Sony/Tektronix. The new company, now solely owned by Tektronix, Inc., will conduct business as Tektronix Japan Ltd.
For more than 35 years, Sony/Tektronix was an integral part of Tektronix' global strategy and a large contributor to the success of the organization. This acquisition enhances Tektronix' ability to address the Japanese market over the long term, enabling the company to leverage engineering resources and to distribute products from Japan globally.
Concurrent with the close of the transaction, Tektronix Japan finalized a credit facility for ¥9.0 billion, which will be used to fund the redemption of shares from Sony and provide operating capital for Tektronix Japan.
Tektronix, Inc. is a test, measurement, and monitoring company providing measurement solutions to the communications, computer, and semiconductor industries worldwide. With more than 55 years of experience, Tektronix enables its customers to design, build, deploy, and manage next-generation global communications networks and advanced technologies. Headquartered in Beaverton, Oregon, Tektronix has operations in more than 20 countries worldwide. Tektronix' Web address is www.tektronix.com
Tektronix is a registered trademark of Tektronix, Inc. All other trade names referenced are the service marks, trademarks, or registered trademarks of their respective companies.