Comms chips

Zarlink Sells Optical Unit to Tyco

OTTAWA -- Zarlink Semiconductor (TSX:ZL) today announced that it has sold the assets of its Optical Products group to Tyco Electronics (NYSE: TEL) for approximately US$15 million in cash.

"The sale of our Optical Products group follows our strategy of narrowing our focus to markets where we can maintain a strong leadership position, while improving operational efficiencies to build a more profitable business," said Kirk Mandy, President and CEO, Zarlink Semiconductor. "This transaction enables us to target our sales and product development efforts on network timing, medical wireless and line circuit initiatives to expand our presence in these markets, build deeper customer relationships and address immediate and long-term revenue growth opportunities."

Zarlink Semiconductor Inc. (NYSE/Toronto: ZL)

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