WILSONVILLE, Ore.-Tektronix Inc. said it will split its businesses into two separate, publicly traded companies-a measurement business division and a color printing and imaging division.
Additionally, the company announced it intends to sell or find a strategic alliance for its video and networking division, excluding the VideoTele.com business unit.
Jerry Meyer, chairman and chief executive officer of Tektronix, said measurement equipment and color printing are two separate businesses, each with its own operational requirements and marketing strategies, and right now, each competes for management focus and investment dollars. “The plan will allow each business to concentrate on its strengths and to respond with greater flexibility and speed to the needs of its customers,” said Meyer.
The new measurement company will retain the Tektronix name and will be headquartered in Beaverton, Ore. Carl Neun, Tektronix’ senior vice president and chief financial officer, will become its CEO.
The color printing and imaging company, not yet named, will be headquartered in Wilsonville, Ore., and Meyer will become its CEO, said Tektronix.
