Vislink has announced that it has entered into a conditional agreement to sell the assets of Vislink Communication Systems (VCS) for $16m. The transaction is expected to be subject to shareholder approval and to close by end FY16. The deal frees management to focus on the software division, which reported a strong increase in order intake during H116, in contrast to the hardware division where H116 revenues fell by 19%, taking the division and the group into the red. The deal also solves the
28 Oct 2016
Conditional sale of hardware division
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Conditional sale of hardware division
Pebble Beach Systems Group PLC (PEB:LON) | 10.5 0 0.0% | Mkt Cap: 13.1m
- Published:
28 Oct 2016 -
Author:
Anne Margaret Crow -
Pages:
8
Vislink has announced that it has entered into a conditional agreement to sell the assets of Vislink Communication Systems (VCS) for $16m. The transaction is expected to be subject to shareholder approval and to close by end FY16. The deal frees management to focus on the software division, which reported a strong increase in order intake during H116, in contrast to the hardware division where H116 revenues fell by 19%, taking the division and the group into the red. The deal also solves the