US interconnect products and complex cable assemblies specialist RF Industries Ltd announced it sold its RadioMobile business, focused on customized mobile public safety communications systems, to the division’s management team.
Under the terms of the deal, RadioMobile Inc. will take ownership of the business in exchange for a portion of its revenues over a three-year period.
“RF Industries is focused on our strategy to provide interconnect products and complex cable assemblies primarily to the wireless market, while RadioMobile specializes in providing customized mobile public safety communications systems,” said Howard Hill, RF Industries CEO. “The synergies that we expected to be realized when we purchased the RadioMobile division several years ago never materialized. We believe the spinoff of this division into the capable hands of its current management benefits both entities and allows each of us to focus our resources on our core business competencies.”
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