Westell Technologies (WSTL) to Sell Its Subsidiary Conference Plus for $41 Million

Westell Technologies, Inc. (NASDAQ: WSTL) has entered into a definitive agreement to sell its subsidiary Conference Plus, Inc. to a subsidiary of Arkadin S.A.S. for approximately $41 million in cash, subject to certain adjustments. For the 12 months ended September 30, 2011, Conference Plus had revenues of $43.1 million and operating income of $5.1 million. The transaction is subject to limited closing conditions and is expected to close December 31, 2011. Westell anticipates recognizing a gain on the transaction of approximately $20 million after taxes.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Boeing names Ryan Shedd as new SVP and controller
• Elroy Air wins $46M U.S. Army contract for cargo drone system
• Alzamend Neuro (ALZN) files for 98.4M share offering by selling stockholders