Ascom sells its TEMS planner products
Mentum and Ascom have announced that the parties have entered into an agreement under which Mentum will acquire the Ascom's network planing business. The business includes the products TEMS CellPlanner and TEMS LinkPlanner and is located in Kista, Sweden. The business currently employs 28 people and all employees are being given the opportunity to transfer with the business. This unit is a minor part of TEMS, a business that Ascom acquired from Ericsson in June 2009. The transaction is expected to close towards the end of the second quarter 2010 and is subject to customary closing conditions. Under the agreement, Mentum will continue to maintain and market both TEMS CellPlanner and TEMS LinkPlanner.
Mentum will pay $2.175 million for the Network Planning Business.
"With this transaction the alignment of the portfolio of the acquired TEMS business has been accomplished. After the successful divesture of this peripheral business, our focus will be sharpened on what we do best to meet our customer needs" says Riet Cadonau, CEO of Ascom.
"The acquisition of Ascom's network planning business, following our major acquisition in July 2007, illustrates the company's growth strategy," declared Philippe Catherine, Chairman and CEO of Mentum. "This operation is in line with Mentum's goal to consolidate the market and to fulfill its vision of worldwide leadership in the area of network planning, design and optimization."
"The acquisition of Ascom's network planning business unit strengthens Mentum's position as a market leader and underscores the company's commitment to driving innovation and providing customers with best-in-class network planning tools," commented Bernard Breton, Chief Operating and Strategy Officer at Mentum. "By combining the strength and expertise of our teams, we will rapidly deliver innovative solutions that provide tangible benefits for both our customers and our partners."