Tyco to Sell Power Systems Business to The Gores
Tyco electronics is the leading provider of engineered electronic components, network solutions, wireless systems and undersea telecommunications systems and services. On 19-October-2007 they announced that they are going to sell their Power Systems Business to The Gores GROUP, a private equity firm focused on acquiring controlling interests in mature and growing businesses.
Tyco recently showed interest towards selling their power systems business and it was sold to The Gores at 100 million USD. The transaction is expected to close by the end of calendar 2007 or early in 2008.
Leave a Reply