Technitrol Completes Divestiture of Medtech Components Business
1. Technitrol Completes Divestiture of Medtech Components
Business
PHILADELPHIA--(BUSINESS WIRE)--Technitrol, Inc. (NYSE: TNL) announced today that the
company has
completed the previously announced sale of its Medtech components
business ("Medtech") to Altor Fund III ("Altor"). The sale price was
approximately $200 million in cash. Medtech includes the former Sonion
A/S's balanced armature receivers, high-end microphones and
electromechanical devices for the hearing aid, high-end audio headset
and medical device markets. Remaining with Technitrol will be the former
Sonion business engaged in high-volume transducers mainly for speakers
used in cell phones and similar communication devices.
