PRINCETON, N.J.-Radiocoms, a subsidiary of Intek Global Corp. that manufactures land mobile radio products based on its proprietary linear modulation technology, plans to sell its non-core distribution assets and activities to Securicor Information Systems Ltd., said Intek.
Terms of the transaction also include a joint distribution agreement under which SIS will distribute Intek’s LM products in Europe, and Intek will distribute SIS’ products in North America, according to parent company Intek.
The sale price of $8 million is subject to certain conditions and the approval of the boards of directors. The companies said they expect the deal to close by the end of the fiscal fourth quarter.
SIS is a United Kingdom-based subsidiary of Securicor plc. Securicore Information holds 62 percent of Intek’s outstanding shares.
