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Technology / AI and automation

MICRODYNE FINDS A BUYER FOR ITS NETWORKING BUSINESS

Microdyne Corp, which announced its intention to exit the networking business last month (CI No 3,183) says it has been negotiating with several parties, and has now signed a memorandum of understanding that would lead to the sale of a substantial portion of the division’s product lines. The unnamed buyer is a local area networks product company. Networking accounts for more than half of Microdyne’s revenues, the other half being Aerospace and Telemetry. The agreement will include the division’s distribution agreements, the company said. Microdyne hopes to have sold or transferred just about all of its networking products business division’s assets by August 1.

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