Tii acquires Porta’s copper division

Tii Network Technologies, a manufacturer of network products, has completed the acquisition of all of the assets and assumed certain operating obligations, primarily accounts payable, of the Copper Products Division of Porta Systems, a manufacturer of surge protection modules, for $8.2m (£5.7m) in cash.

Included as part of the assets acquired are subsidiaries in the UK and Mexico.

Concurrent with this acquisition, Tii sold, for $1m in cash, a majority interest in the Mexican operations to its principal contract manufacturer, who will operate this manufacturing facility.

Tii will be paid an additional $1.5m from its contract manufacturer for raw materials at the facility as these materials are used in production.