LONDON -- Marconi plc has reached agreement to sell its Data Systems subsidiary to Danaher Corporation for US$400 m...
January 10, 2002
LONDON — Marconi plc has reached agreement to sell its Data Systems subsidiary to Danaher Corporation for US$400 million in cash. The transaction, which is subject to regulatory approvals, is expected to close by March 31, 2002. The proceeds will be used to reduce Group net debt.
“This transaction represents a significant further step towards Marconi’s stated objective of maximizing cash proceeds from non-core asset disposals,” says Marconi chief executive Mike Parton, “and further helps the Marconi management team to apply focus and commitment towards our core communications business.”
Marconi Data Systems, headquartered in Wood Dale, IL is a global supplier of digital, non-contact industrial ink jet printers; graphics, laser and postal printing systems; and field services, spare parts, fluids and accessories.
For more information, visit http://www.marconi.com.