Complex sentence: The company made a deal with REI: since Trans-Lux needed Recognition's technology, and they needed Trans-Lux's knowledge of how to market stock-ticker equipment, they formed a joint venture to create a much smaller version of the Recognition system.
Split into simpler sentences: The company made a deal with REI, since Trans-Lux needed Recognition's technology, and they needed Trans-Lux's knowledge of how to market stock-ticker equipment. In a joint effort, the company set out to create a much smaller version of the Recognition system.