PA Consulting Group and 3i have announced the signing of a transaction in which Aeroflex will purchase the test and measurement division of UbiNetics for £46mn. A further contingent payment of 4.6% will be made if certain performance targets are met after a year. UbiNetics is a global supplier of software and silicon IP for digital wireless terminals, driving development of 3G mobile wireless technology. Its products, services and solutions are relied upon by the world's major handset and device manufacturers, infrastructure developers and network operators. UbiNetics currently has two core businesses: a 3G terminal software development and handset modem reference design business, and 3G test and measurement solutions business. The test and measurement division being sold to Aeroflex designs and develops a range of sophisticated 3G test products used by the world's leading network equipment developers and network operators for debugging new network features, interoperability analysis and network 'stress' testing. The sale will allow UbiNetics to concentrate on its remaining 3G terminal software development business, responsible for the multimode 3G protocol stack and 3G modem reference designs, used in mobile handsets.
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