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Avarion in Talks to be Split Up and Sold

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Struggling Israeli wireless equipment vendor, Avarion is reported to be in talks that could see it being bought by the USA based security solutions provider, DVTel, with its WiMAX business being split off and sold to a private equity investor.

Without citing sources, Israeli business newspaper, Globes said that the talks are likely to lead to a sale of the WiMAX business for a "few tens of millions of dollars", and the rest of the company for about $50 million.

The company was once worth around USD900 million at the height of the WiMAX telecoms bubble but its shareprice has since slumped to a capitalisation of jut $27 million.

Alvarion's share price jumped over 20% on the reports of the possible sale.

On the web: Globes

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Tags: avarion   Israel