PRINCETON, N.J.-Intek Diversified Corp. sold its entire interest in Transcrypt International Inc. for nearly $7.5 million cash as part of Transcrypt’s secondary stock offering, which went into effect Oct. 14.
“Intek’s Transcrypt holdings represent the proceeds from an investment made by our Radiocoms subsidiary several years ago,” said Robert J. Shiver, chairman and chief executive officer of Intek. “The receipt of proceeds from the Transcrypt offering provides an excellent opportunity for Intek to accelerate the exploitation worldwide of linear modulation technology and continue the expansion of its Roamer One network.”
