Hubbell Sells DSL Unit to Israel's ECI
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Hubbell Inc. Tuesday sold its WavePacer DSL assets to Israel's ECI Telecom Ltd. in a multimillion-dollar deal.
Financial terms of the deal were not disclosed, though Israel's Globes reports a price range of $65 to $90 million depending on the final WavePacer sales performance this year. The transaction is expected to close in the next two months, pending regulatory approval.
Hubbell (HUBA) will continue to manufacture Pulse Communications products on a more limited basis, though core offerings such as Central Office D4 transmission and Series 5 digital loop carrier equipment. Pulsecom will continue to supply these components to the Regional Bell Operating Companies (RBOC).
The move is meant to support development for ECI's (ECIL) new concentration on broadband and its intention to enter the U.S. DSL market, the Globes report said.
Hubbell reports $1.4 billion in annual revenues through its global operations.
ECI Telecom Ltd., is a provider of integrated network solutions and data transmission systems used to enhance the capabilities of existing networks to support voice, data, video and multimedia services.