Infinite Electronics Announces Intent to Sell KP Performance Antennas and RadioWaves Businesses to Alive Telecommunications [Yahoo! Finance]
SMITHS GROUP PLC S/ADR (SMGZY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
of leading in-stock connectivity solution brands, announced today that it has signed a definitive agreement to sell its KP Performance Antennas and RadioWaves businesses to Alive Telecommunications, a global supplier of communications equipment, systems and services. The transaction will close approximately on April 1, 2024 "KP Performance Antennas and RadioWaves businesses are both excellent strategic fits for Alive Telecommunications," said Penny Cotner , CEO of Infinite Electronics. "As antenna technology continues to evolve, the highly technical product development needed to drive continued growth of these brands does not align well with Infinite's design capabilities, unlike our strong development capability in brands such as Transtector and Integra Optics, and our strong private-label capability in the balance of the Electronic Components and Assemblies portfolio. As such, the success of these brands would be better served by an acquirer who has these development capabilities.
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