The deal for Tektronix India was signed for about Rs 66 crore and acquisition of Tektronix's colour printing and imaging division (CPID) is expected to boost Indian office automation major's colour printing business substantially.

Following the announcement, Tektronix will merge with Indirect Marketing Group of Modi Xerox. While Tektronix CPID president Gery Perkel will take over as president of Xerox Corporation's office printing business, Modi Xerox will absorb all Tektronix employees in India.

Even though Tektronix does not have a significant market share locally, it has a 50 per cent market share worldwide. The acquisition will enable Modi Xerox to offer a full suite of office printing products.

"The company is in a unique position to offer complete range of colour printing products to our customers and the acquisition provided a complementary product range and enhances our market," said Modi Xerox managing director HN Nanani in a statement.

Initially, MX will offer three Tektronix models for sale in the Indian market which includes a solid ink printer.

Through the deal, the companyhas gained access to over 430 Tektronix CPID patents in solid ink and imaging services.