DYNATECH SELLS 13TH NONSTRATEGIC OPERATION.BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 17, 1995 Dynatech Corporation (Nasdaq symbol: DYTC) announced today the sale of its subsidiary, LEA Dynatech, Incorporated, to a Tampa, Florida-based group of private investors. The terms of the deal were not disclosed. LEA, which makes transient voltage surge suppression The diverting and/or diminishing of excessive current and voltage from the AC power line, which can damage sensitive electronic equipment. Power surges generally last less than 50 microseconds, but can reach as much as 6,000 volts and draw 3,000 amps when they arrive at the equipment. equipment, is the thirteenth product line or business sold by Dynatech Corporation since it announced a corporate-wide restructuring plan in April 1994. The total net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). realized from the sale of these thirteen operations was approximately $37 million. "The divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of these thirteen nonstrategic operations is an important step in our plan to become a focused communications equipment supplier. Our attention and resources are now fully concentrated on addressing key growth opportunities related to the worldwide expansion and change in voice, data, and video communications," said John F. Reno, Dynatech's president and chief executive officer. With fiscal 1995 revenues of $489 million, Dynatech Corporation supplies products for the support of voice, video, and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. . Headquartered in Burlington, Massachusetts Burlington is a town in Middlesex County, Massachusetts, United States. The population was 22,876 at the 2000 census. History Burlington was first settled in 1641 and was officially incorporated on February 28, 1799. , Dynatech sells its products worldwide through subsidiaries located throughout the Americas, Europe and Asia. CONTACT: Steve Cantor Manager, Corp. Comm. (617) 272-6100 |
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