Wednesday, July 25, 2007

WFI Closes Sales Of Wireless Deployment Business

San Diego-based WFI said Tuesday that it has closed on its sale of its wireless deployment system to private equity firm Platinum Equity. The sale, which was announced earlier this month, was worth $24M, made up of $18M in cash plus $6M in earnout over the next three years. WFI said that the deal included all of its wireless deployment business and Wireless Facilities name; WFI is transitioning its name and business into the information technology and defense business.