ADC To Sell Certain Non-Strategic Assets.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Dec. 31, 2003 ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. (Nasdaq:ADCT ADCT Adaptive Discrete Cosine Transform , www.adc.com) today announced that it has reached an agreement to sell certain digital loop carrier In telephone communications, a technology that increases the number of channels in the local loop by converting analog signals to digital and multiplexing them back to the end office. assets, whose sales were approximately 3% of ADC's fiscal 2003 sales. A subsidiary of the Dutch company Kardan N.V. has agreed to acquire a majority share of the divested business with other members of a purchasing group acquiring the remaining share. The transaction, subject to ordinary closing conditions including the receipt of necessary third party consents, is expected to close before March 1, 2004. As previously announced, ADC is currently considering strategic choices to add and/or subtract businesses and products in its portfolio with the goal of growing profitably in more focused areas and being a leader in each market the company serves. ADC remains committed to serving its global customer base with broadband equipment, software and services designed to advance communication networks efficiently and enable service providers to deliver next-generation services to their customers. About ADC ADC is The Broadband Company(TM). ADC offers high-quality, value-added solutions of network equipment, software and systems integration services that enable communications service providers A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. to deliver high-speed Internet See broadband. , data, video and voice services to consumers and businesses worldwide. ADC (Nasdaq:ADCT) has sales into nearly 90 countries. Learn more about ADC Telecommunications ADC Telecommunications (NASDAQ: ADCT) is a communications company located in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. History In 1935, Ralph Allison founded ADC Telecommunications in the basement of his south Minneapolis home, inventing ADC's very , Inc. at www.adc.com. |
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