Tyco Electronics Ltd. (TEL) said on Monday that it has completed the sale of its Radio Frequency Components and Subsystem business, which was formerly part of the company's Wireless Systems segment.
The business, which designs and manufactures RF components and subsystems for the aerospace, defense and commercial markets, was sold to Cobham Defense Systems Division, a subsidiary of Cobham plc.
In a separate transaction, the company also completed the sale of its automotive radar sensors business to Autoliv Inc.
Both transactions closed on September 26, and the company received net cash proceeds of about US$470 million from these sales, subject to final working capital adjustments.
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