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Article: Plantronics to sell Altec Lansing to Prophet Equity.
- Article from:
- Telecomworldwire
- Article date:
- October 5, 2009
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TELECOMWORLDWIRE-5 October 2009-Plantronics to sell Altec Lansing to Prophet Equity(C)1994-2009 M2 COMMUNICATIONS http://www.m2.com
Audio products provider Plantronics Inc (NYSE:PLT) announced on Friday it has entered into a definitive agreement to sell its Audio Entertainment Group Altec Lansing to private equity firm Prophet Equity LP.
The value of the transaction is estimated at USD18m in cash, net of liabilities assumed and subject to certain adjustments.
Under the terms of the agreement, Plantronics will retain certain Altec Lansing assets and liabilities as of the closing date, including accounts receivable, accounts payable and certain ...