Comarco Signs Definitive Agreement to Sell its Wireless Test Solutions Business to Ascom
Comarco, Inc. (Nasdaq: CMRO) announced today that it has signed a definitive agreement for the sale of its wireless test solutions (WTS) business to Ascom Holding AG (SWX: ASCN.SW), an international solution provider with comprehensive technological know-how in mission-critical communication. Under the terms of the transaction, Comarco will receive approximately $12.75 million in cash, with a portion of the cash purchase proceeds to be placed in escrow. The closing of the proposed transaction, which is subject to various closing conditions, including approval of the sale by Comarco's shareholders and other conditions, is anticipated to occur in the fourth quarter of Comarco's current fiscal year.
- Published: 29 September 2008
- Written by Editor