Marconi Sells Two, Non-Core Business Divisions

Marconi has sold its Private Mobile Networks division (OTE SpA, also known as TETRA) to Finmeccanica SpA for EUR 3 million in cash, EUR 7 million in assumed debt and EUR 12 million in debt to suppliers. The OTE business unit is headquartered in Florence and employs over 500 people worldwide. The business provides secure and reliable turnkey mobile radio networks for police and governmental bodies, fire authorities, health and other emergency services, as well as transportation companies and public utilities. In a separate transaction, Marconi sold its Online division to Coca Cola Amatil (New Zealand) Limited for NZ$2.95 million (over £1 million). Marconi Online was established as a start up in April 2000 and specializes in the development of intelligent vending products and services that enable the remote monitoring of vending machines across fixed line and mobile networks.

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