– Covitex purchase

Covitec Group has acquired the equipment of recently bankrupt Ottawa video sales and rental company United Imaging. Covitec president Claude Gagnon says the company will revamp the Ottawa operation under the name Covitec Video Rentals and concentrate exclusively on the rental of broadcast and presentation video equipment, the most profitable area of ua’s biz. the new operation intends to retain a majority of the former employees.

Gagnon says the move is part of a development plan that includes gaining a foothold in the Ottawa market, without undue risk.

– Discreet offering

Montreal-based Discreet Logic has filed an offer with the u.s. Securities and Exchange Commission for the sale of 1.6 million common shares.

The developer and distributor of wide-selling digital special effects editing systems such as Flame and Flint, hopes to raise $19.98 million at the assumed price of $53.75 a share. Its shares were trading in the $46 range on nasdaq earlier this month.