Tuesday, July 10, 2007

WFI Sells Deployment Business

San Diego-based WFI said this morning that it has agreed to sell its wireless deployment business to a private equity firm. WFI said it will sell its wireless deployment business to Platinum Equity, a Los Angeles-based private equity firm. The deal is worth $24M, made up of $18M in cash plus $6M in a three year earnout. The deal includes 450 staff throughout the United States. According to WFI, as a result of the transaction plus earlier divestitures of its wireless related businesses, the firm now is focused on engineering and professional services for the federal, state, and local government market. WFI said it will change its name as a result of the sale, but has not yet announced a new name.