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.
The company will also expand its product line to include D4
channel units and fiber-based Series 5 systems.
Hubbell Premise Wiring will also continue its operations.
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.