CALGARY – CSI Wireless has signed a deal to sell its fixed wireless telephone business to Telular Corporation for about $14.8 million U.S.
CSI, of Calgary, recently decided to also sell its telematics business and will now concentrate on its GPS products for the agricultural market.
“CSI has historically participated in both the wireless and GPS markets, which have fundamentally different business models,” said Stephen Verhoeff, president and CEO of CSI Wireless. “This has created a number of challenges for the company both internally and externally. After much deliberation, we determined that the GPS and fixed wireless businesses would perform better, and be more appropriately valued, if separated.”
Telular Corporation, of Illinois, designs and manufactures telecom interface technology to allow standard phones, fax machines, computer modems, and monitored alarm systems to use cellular wireless service for the main or back-up telecom services.
