Laird, the FTSE 250 technology company, has completed the sale of its handset antennae business, Laird Technologies (Beijing) Co., Ltd., for approximately £20m.
The unit, which is based in China, has been sold to Shenzhen Sunway Communication, thus culminating the strategic review for the business which was announced on the past 6th of May of 2011.
Its revenues were described as worse than break-even after the first quarter of 2011.
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Since 2011, Laird has staged an impressive recovery, with the shares up 30% in the last 12 months.
BS
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