US private equity group Sun Capital Partners Inc said one of its affiliates had wrapped up the USD110m (EUR84m) purchase of US communications equipment provider Polycom Inc’s (NASDAQ:PLCM) enterprise wireless communications unit.
The acquired business operates under the brands SpectraLink and KIRK telecoms, providing on-site enterprise mobile communication solutions, such as handsets infrastructure, accessories and services using Wi-Fi, DECT and proprietary wireless networks.
The cash deal was agreed in May, when Polycom said it was part of plans to focus on its core unified communications and video collaboration solutions.
Sun Capital plans to work with the management of the newly acquired business to further grow it as a standalone company, it said. The business will keep its US headquarters in Colorado and its European base in Horsens, Denmark.
Polycom’s enterprise wireless voice portfolio made revenues of some USD94m last year.