Network infrastructure solutions supplier ADC Telecommunications Inc. (ADCT), Thursday said that it has sold its portfolio of GSM base station and switching products to Altobridge, a provider of cost-effective solutions for mobile network operators. The terms of the transaction, which is closing today, were not disclosed.
Altobridge will acquire ADC's existing GSM base station and switching product customer base and retain all of the employees necessary to support the business. Altobridge will also buy certain assets and intellectual property related to the product portfolio.
Eden Prairie, Minnesota-based ADC's GSM base station and switching product portfolio are providing support to applications such as remote wireless and small national networks, as well as government, emergency and private network communications. The company's in-building and outdoor wireless solutions are used to make 3G and 4G networks more efficient.
With the acquisition, these products are expected to complement Altobridge's innovations in several markets, including its Fully Managed Service business and solutions for optimising voice and data transmission for mobile network operators.
Mike Fitzgerald, chief executive of Altobridge, said, "Mobile Network Operators face a major challenge to deliver accelerating voice and data traffic for declining returns. Altobridge will continue to innovate and deliver further solutions that drive down these underlying communication costs."
"This acquisition will enable Altobridge to broaden our Intellectual Property portfolio and grow our Fully Managed Service business as we work hand in hand with MNOs striving to connect their subscriber groups at lower costs," Fitzgerald added.
Further, ADC noted that both the companies will co-operate to ensure a smooth transition for existing customers. Contracts and warranties with existing and pending customers will continue to be supported by Altobridge.
ADCT is currently trading at $6.28, down 0.11 or 1.72%, on a volume of 284K shares on the Nasdaq.
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