10th Dec 2020 17:45
CML Microsystems PLC - radio frequency semiconductor maker - Agrees to sell Hyperstone, its storage division, to Swissbit for USD49 million in cash.
The disposal reflects a decision made by the board to refocus on the global communications market.
"The disposal further enables CML to direct its efforts, including research and development spend, on capturing the exciting growth opportunities within the wireless communication markets, leveraging its standing as a key supplier to many of the world's Tier 1 equipment manufacturers," says CML.
Current stock price: 365.00 pence; up 29% on Thursday
Year-to-date change: up 3.4%
By Lucy Heming;Â [email protected]
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