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M/A-COMM Radio Division Sold Off |
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Thursday, April 16 2009 |
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As part of a continuing attempt to consolidate and streamline its various divisions, Tyco Electronics Ltd. has sold its wireless systems unit to Harris Corp. for $675 million. The business includes M/A-COMM Critical Communications, one of a handful of companies that market radio equipment and systems to public safety agencies. The does not include M/A-COMM's contract with New York state for a state-wide radio network, which the state cancelled earlier this year over performance issues. Over the last six months Tyco Electronics sold off two other units of its wireless business as part of the streamlining plan. In a press release, the company said the wireless unit generated sales of $461 million in fiscal 2008. Tyco Electronics CEO Tom Lynch said the sale would, "increase our focus on our core connectivity business and substantially completes the streamlining of our portfolio that we began two years ago." He called the sale to Harris "an ideal fit" that should "help position the business for accelerated growth." M/A-COMM was formed from various mergers and acquisitions that began with General Electric's radio business in the 1930s, and then Sweden-based Ericsson, ComNet Communications, and finally Tyco International, the parent of Tyco Electronics. Harris Corp. dates to 1890 when two brothers formalized their inventing activities. The company has hundreds of patents covering many industries, but now focuses on communications, semiconductors and electronic systems, notably for defense systems for the government.
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