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September 7, 1997updated 01 Sep 2016 5:13pm

MICRODYNE FAILS TO SELL OFF ETHERNET LINE

By CBR Staff Writer

Microdyne Corp is hoping to get out of the networking business as fast as possible, but says negotiations to sell off its Ethernet product line to a Taiwanese company have now broken down. The Alexandria, Virginia-based company said the sale has been terminated because it couldn’t get hold of necessary performance guarantees on the part of the buyer, and decided the deal would not be in the interests of either the company or its shareholders. Negotiations to sell other assets of the now discontinued Networking Products division continue. Microdyne announced in June it would be getting rid of its networking business in a bid to halt its losses (CI No 3,183). Microdyne is now seaching for a different buyer for its Ethernet assets.

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