December 20, 2019 @ 12:23 by Steven Hugill
A County Durham technology firm has finalised a £4.2 million sale officials say will help strengthen its wider portfolio.
Filtronic has offloaded its telecoms antenna operations to Sweden’s Microdata Telecom Innovation Stockholm AB.
Bosses at Filtronic, which is based at NETPark, in Sedgefield, say the deal will allow the business to develop operations across the 5G, public safety communications and defence and aerospace sectors.
The company is known for developing products such as the Morpheus and Orpheus transceivers, which increase the amount and quality of data that networks can carry.
According to the terms of its sale, which will complete on January 2, Microdata Telecom will take on the entire share capital of Filtronic Wireless AB in Sweden and certain antenna manufacturing assets held by a Chinese subsidiary.
Reg Gott, Filtronic executive chairman, said: “I am delighted to confirm we have signed an agreement with Microdata Telecom.
“The sale strengthens our balance sheet, simplifies our business, and enables us to focus on business activities that better suit our core strengths.
“Microdata Telecom is an ambitious and rapidly growing company with a strong wireless telecoms pedigree.
“Being based in Taby, Sweden, it is well known to our telecoms antenna operations and is an excellent destination for our staff, customers and products.”