Wednesday, December 3, 2008

Comarco Gets Approval For Wireless Test Business Sale

Lake Forest-based Comarco said this week that it has received shareholder approval to sell "substantially all" of the firm's assets in its wireless test solutions business. According to Comarco, it will receive $12.75M in cash for its business, which it is selling to Ascom Holdings AG. According to Comarco, the deal is expected to close on January 5th. Comarco agreed to sell its wireless test solutions business in late September, saying that the move would dramatically reduce its operating costs.