Zarlink sells optical products group to Tyco Electronics for US$15 million

Source:winnipegfreepress.com

OTTAWA - Zarlink Semiconductor (TSX:ZL) said Monday it is narrowing its focus with the US$15-million cash sale of its optical products group to Tyco Electronics (NYSE:TEL).

The Ottawa-based company said it will now work toward building a more profitable business by targeting growth initiatives in the network timing, medical wireless and line circuit markets.

"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," stated chief executive Kirk Mandy.