Real-time versus equivalent-time sampling (PDF!), an app note from Tek:
When a DSO uses equivalent-time sampling, it can acquire any signal up to the analog bandwidth of the scope regardless of the sample rate. In this mode, the scope gathers the necessary number of samples across several triggers. The input signal must be repetitive to generate the multiple triggers needed for equivalent-time sampling. In equivalent-time, a slower, lower-cost digitizer provides the same accuracy on repetitive waveforms as a higher cost DSO with a faster sampler. For example, the TDS 460 offers a 350 MHz bandwidth with only a 100 MS/s sampling rate on each of its four channels.
The TDS 400 and TDS 500 Series scopes use a common method called random equivalent-time sampling. Although these scopes acquire samples sequentially after each trigger, each acquisition starts at a different time with respect to the trigger. Figure 1 depicts how random equivalent-time sampling works.