Zenitel Group announces the sale of its Swedish subsidiary ‘Confined Area Solutions AB’.
After the sale of its Belgian subsidiary and Wireless activities in France, Zenitel announces the sale of 100% of the shares of ‘Confined Area Solutions AB’, to a Danish company, Wireless Holding ApS, specialized in analog / digital radio technology.
Confined Area Solutions AB, is specialized in the assembly and development of repeaters. The company has over twenty seven years experience in designing equipment and solutions for radio coverage in Confined Areas. The sale was closed on June 24th. The transaction will have a limited financial impact.
The company realized a 1.5 million EUR turnover in 2008, and was loss making. The company employs 11 people.
The transaction is in line with the divestment strategy announced by Zenitel in its 31 March 2009 press release.
Wireless Holding ApS, acquired the company, in order to strengthen its position in radio coverage and infra structure.