Tyco buys optical products group for $15million
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Mixed signal chip specialist Zarlink Semiconductor has sold the assets of its optical products group to Tyco Electronics for approximately $15million.
According to Zarlink's president and ceo, Kirk Mandy (pictured), the transaction will enable the company to expand its presence in network timing, medical wireless and line circuit markets. Mandy said: "There is significant customer design activity for our timing products, as carriers undertake a multi-phase network overhaul to better support higher bandwidth communication services, including new smartphone applications. Our timing business is positioned to grow quickly, with strong customer demand for our packet network timing products and new opportunities for timing technologies in optical transport applications.
"In the medical market, we are uniquely positioned as a provider of standards compliant radios for wirelessly enabled implanted medical devices and enjoy established relationships with the world's largest medical device manufacturers. Finally, our line circuit portfolio is a solid, profitable business that provides the scale necessary to help drive operating efficiencies across the company."
Zarlink intends to discuss the impact of the sale of the Optical Products group on its financial results when it provides Q4 and Fiscal 2010 results and Q1, Fiscal 2011 guidance, on May 27, 2010
