WHEAT RIDGE, Colo.—ARC Wireless Solutions Inc. said it plans to sell its Winncom Technologies Corp. subsidiary to an unnamed Irish company for $17 million in cash.
Winncom is a wholly owned subsidiary of ARC and contributed 82 percent of ARC’s revenue and net assets in 2005 as well as half of its net income, said the company. ARC purchased Winncom in 2000 for $12.72 million.
ARC said it will use proceeds from the transaction for future acquisitions and to expand its Wireless Communications Solutions Division and Starworks Wireless subsidiary.
ARC Wireless makes base station antennas and other components via its Wireless Communications Solutions division and cable assemblies for cable and satellite applications via its Starworks business. Winncom provides Wi-Fi and other wireless networking products.
